So, apparently, stablecoins are the new “it” thing, and they need a proper dress code—sorry, I mean regulatory framework. Who knew? 🤷♀️
According to a fancy new report from Hashed Open Research and Four Pillars (because obviously, they have four pillars and not just one), a stablecoin tied to the Korean won could catapult South Korea into the global stablecoin race. Move over, other countries! 🇰🇷💪
This report, which dropped on March 24, claims that launching a won-based stablecoin might just make digital transactions as easy as ordering a coffee—if only they could figure out how to make that coffee stable too! ☕💻
It seems that introducing a KRW stablecoin could help fix those pesky structural inefficiencies in the Korean crypto market. You know, the ones that keep it from being as fabulous as it could be. Plus, it could lay the groundwork for all those fintech industries we keep hearing about but never quite understand. 🏦✨
But hold your horses, because while we’re all for won-pegged stablecoins, the report throws a bit of shade at the dollar-based stablecoins like Tether (USDT) and USD Coin (USDC). Apparently, they’re causing some serious capital outflows. Yikes! 😱 Who knew dollars could be so dramatic?
Hashed Open Research is waving a big red flag, saying we need a dedicated regulatory framework for these assets. They’re like the Swiss Army knives of finance—part payment tool, part investment asset, and all-around confusing! 🔧💰
They even suggest that both banks and non-banks should get in on the stablecoin action, but only if they play by the rules. And let’s not forget, if foreign-issued KRW stablecoins want to crash the party, they better be ready to follow the local dress code! 🎉📜
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2025-03-24 11:02