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South Korea’s Gyeonggi Province plans to launch a stablecoin concept validation test in August

MarsBitNews
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Mars Finance news: South Korea’s first-tier administrative district, Gyeonggi-do, has officially announced that it will officially launch a stablecoin concept verification (PoC) project in August 2026. The project will explore the feasibility of deploying stablecoins for local fiat currencies, government public subsidies, and livelihood payment systems. The first round of testing will focus on validating three core technologies: programmable payments, zero-knowledge proof privacy technology, and a reserve proof mechanism that matches stablecoin issuance amounts with reserve assets in real time, to complete end-to-end technical verification of stablecoin issuance and circulation. If the initial testing progresses smoothly, the project will move into a second phase of scalability testing from October to December, focusing on evaluating controls to prevent misuse of funds, transaction privacy protection, adapting business selection, and collecting real-world usage feedback from residents and merchants to accumulate practical experience for later large-scale local stablecoin applications.
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