The South Korean banking industry is accelerating its layout for stablecoins! Multiple banks are forming digital asset teams to seize new opportunities from the "Basic Law on Digital Assets."

As the United States advances the "Payment Stablecoin Regulatory Act" (GENIUS Act), many countries around the world are accelerating their regulatory frameworks for stablecoins, with South Korea being particularly proactive. According to the "Daily Economy" report, South Korea's major banks are rapidly formulating cryptocurrency strategies, establishing specialized teams, and planning the issuance and management of a Korean won stablecoin in anticipation of the upcoming "Digital Asset Basic Law" (DABA). KB Kookmin Bank, Shinhan Bank, and Woori Bank have all established digital asset teams or task forces, submitted trademark applications, and conducted technical tests to prepare for the market opening after the legalization of stablecoins. South Korea's unified regulatory framework is expected to become a global model, with crypto assets viewed as the new national growth engine following AI and semiconductors.

The Bank of Korea Races Ahead in the Stablecoin Track As the United States advances the "Payment Stablecoin Regulatory Act" ( GENIUS Act ), South Korea is becoming one of the leaders in the global stablecoin regulatory competition. According to a report by South Korea's "Daily Economy" ( Maeil Kyungjae ), several major banks in South Korea are accelerating the development of their cryptocurrency strategies, forming dedicated teams, and drafting plans for the issuance and management of stablecoins in anticipation of new regulations that will open the door for related businesses. This marks South Korea's active embrace of the digital asset economy.

Banking giants take active action

• Woori Bank (Woori Bank): has established a dedicated "digital asset team" under its new business cooperation platform, composed of digital experts. This team is restarting previously shelved projects such as Crypto Assets custody and exploring new partnerships with blockchain companies.
• KB Kookmin Bank (KB Kookmin Bank): Established a "Virtual Asset Special Task Force" within its group across subsidiaries. This body is responsible for formulating digital asset strategies, adapting to policy changes, and coordinating initiatives among business departments such as insurance, securities, and asset management.
• Hana Bank (Hana Bank): is exploring the issuance infrastructure for a Korean won stablecoin.
• Shinhan Bank (Shinhan Bank): has deployed a special task force of 20 people responsible for service prototype development and early trademark layout.
• Local Banks Follow-Up: Busan Bank ( and other local banks such as K-Bank have also joined the competitive ranks.

Trademark layout and technical testing in parallel The South Korean banking industry is not only actively preparing internally but has also taken bold external actions:

• KB National Bank: Has submitted 81 trademark applications related to stablecoins, of which 32 are for Korean won stablecoins and 49 are for foreign currency stablecoins.
• Shinhan Bank: Conducting proof of concept (PoC) testing, reviewing regulatory compliance scenarios, and designing integration solutions for stablecoin products.
• Woori Bank: Plans to establish a joint venture "Vitgo Korea" focused on stablecoin custody in collaboration with overseas partners, and has signed relevant agreements.

Unified regulatory framework provides certainty South Korea is reviewing new legislation such as the Digital Asset Basic Act, DABA), which aims to clarify the issuance of stablecoins, the custody of Crypto Assets, and the trading standards for digital assets. This stands in stark contrast to the United States:

• United States: Regulation remains fragmented, with overlapping institutional responsibilities. The "GENIUS Act" only covers payment stablecoins, while the roles of the SEC (Securities and Exchange Commission) and CFTC (Commodity Futures Trading Commission) still intersect.
• South Korea: DABA provides a unified comprehensive legal framework covering tokens, NFTs, and custody rules.

Clarification of regulations may boost the development of the crypto market Sangmin Seo, head of the Kaia DLT Foundation, commented that the regulatory clarity in South Korea may soon become a model for other countries. He pointed out:

"In this election, the South Korean political scene views Crypto Assets as a 'vote-winning narrative' to gain voter support, positioning it as the new national growth engine after artificial intelligence (AI) and semiconductors."

Conclusion: The proactive layout of the South Korean banking sector before the implementation of the "Basic Law on Digital Assets" highlights its strong confidence in the prospects of the stablecoin and digital asset market. A unified regulatory framework provides rare certainty for market participants, which is expected to attract capital and innovation resources. If South Korea successfully establishes its regulatory model as a global benchmark, it will not only consolidate its leading position in the digital asset field but may also significantly promote the prosperity of its domestic crypto ecosystem, achieving its strategic goal of becoming a "new growth engine for the country." The global competitive landscape of stablecoins may be reshaped due to South Korea's proactive actions.