On January 30, Wemade said it opened the testnet for StableNet, its KRW stablecoin-focused network, describing it as an infrastructure layer optimized for stablecoin issuance and operations rather than a general-purpose public chain. No separate gas token: transaction fees are designed to be paid using the KRW stablecoin itself, targeting accounting simplicity and operational predictability for business and financial partners. Fast finality and throughput: StableNet uses an in-house consensus approach described as WBFT, with claims of sub-second transaction finality and capacity up to 3,000 transactions per second. Privacy with audit-readiness: a “secret account” implementation based on ERC-5564 is presented as a way to keep sensitive transaction details private while still supporting audit responses when required.
At a Seoul seminar on January 29, Kim Seok-hwan, a vice president at Wemade, framed the core goal bluntly: StableNet is designed so that “the Bank of Korea can feel at ease,” emphasizing that the network was built on the premise of complying with Korean financial rules and adapting to future requirements. The more important signal is not “another testnet.” It is the argument behind it. Across Newsis and Bizwatch’s coverage, the company’s logic lies in the fact that if stablecoins are meant to be used by institutions, the infrastructure must behave like financial rails, not like a retail crypto network that tolerates probabilistic settlement, volatile fee assets, and ambiguous accountability. “Imagine a bank or card company using blockchain to process stablecoin payments. If a chain reorganization occurs within a minute, all payment records could be canceled.”
StableNet is being positioned as a “K-finance” infrastructure play: compliance-first design, predictable fees, and a privacy feature that still allows oversight responses. Most public blockchains are not designed for financial institutions that require transactional finality and reliability. That’s why we’re building a dedicated mainnet specialized for on-chain finance. A chain can claim compliance, but it still must earn trust from the institutions it wants to serve. StableNet’s pitch runs into a structural tension without fully stating: financial-grade auditability and user privacy pull in opposite directions. By arguing that “generic public chains” are a poor fit for institutional on-chain finance, Wemade is implicitly saying partners must join a new ecosystem with its own standards, tooling, and governance expectations. StableNet is still infrastructure, not an active currency. It provides the rails, but adoption will depend on which licensed entities choose to issue and distribute a KRW-backed stablecoin through it.
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