Towards a cashless era: South Korea digitizes local currency
The removal of the ban on issuing tokens in February 2026 will mark a turning point for local currency projects in South Korean provinces. Instead of using limited-function electronic vouchers, these areas can now issue true encrypted tokens based on the stablecoin platform of banking alliances. This enhances liquidity and boosts domestic spending more strongly than ever before. #anhbacong
The banks participating in the alliance are not only focused on issuing coins but also expanding cooperation with insurance units to create a comprehensive payment network. Supporting new protocols effectively prevents misconduct and increases transparency in public utility cash flow. As transaction activities are fully digitized, aligning with the government's roadmap will help domestic banks enhance their competitive position against international competitors. This is evidence of the flexibility of the South Korean financial system in adapting to blockchain technology. $USDC $BTC
