South Korea releases a roadmap for the internationalization of the Korean won, to issue Korean-won-denominated stablecoins and plans to launch a government bond tokenization pilot next year.

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Mars Finance news: According to Korean media ETNews, the South Korean government has released a “Korean won internationalization roadmap,” aiming to push the won’s transition from a regulated currency to a freely exchangeable currency and to build an offshore Korean won settlement network. It is said that the Bank of Korea will roll out an “Offshore Korean won settlement network” (tentative name), expected to begin trial operations in September this year and officially launch in January next year. In addition, it will build digital asset payment infrastructure to lay the groundwork for the issuance, distribution, and trading of won-denominated stablecoins. The plan is to launch pilot projects next year to enable tokenization of government bonds linked to the Bank of Korea’s digital currency (CBDC) institutions. Additionally, South Korea will formally join “Agora,” a cross-border digital payments project led by the Bank for International Settlements (BIS) that brings together the central banks of eight countries.
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