Korea’s Stablecoin Moment: Banks and Fintech Race to Build Digital Money Infrastructure

Korea advances toward domestic stablecoin legalization as banks and fintechs race to design a regulated digital money infrastructure for cross-border finance.

Rich by Coin

2026-02-08

South Korea’s financial and technology sectors are converging on stablecoins as the Digital Asset Basic Act nears final passage. Banks and fintech startups are rushing to design compliant infrastructure for what could become the country’s next-generation financial system. A central policy dispute centers on whether KRW stablecoins should be issued only by bank-led consortia with at least 51% ownership or if fintech firms can participate as well. The Bank of Korea argues that majority bank ownership protects monetary stability, while the FSC and fintech groups warn that concentration could stifle innovation; industry associations have criticized the rule as a barrier to Korea’s innovation agenda.

At the Seoul Digital Money Summit 2026, Sooho.io CEO Park Ji-soo introduced the concept of Intent-Based Finance, arguing that financial services are moving toward real-time, user-driven architectures. “Finance is shifting from providers selling fixed products to systems that detect user intent and assemble optimal solutions instantly.” He identified three core technologies driving this shift: programmability through smart contracts, composability across financial layers, and 24-hour real-time settlement. Demonstrations showed stablecoin payments could reduce retail FX fees to about 0.3% and enable immediate settlements for merchants.

Korea accelerates its stablecoin era as fintech innovators and major banks race to build compliant digital money infrastructure reshaping cross-border finance. Sooho.io’s Ezys platform demonstrated how stablecoin payments could reduce retail FX fees from around 1% to 0.3% while enabling merchants to receive immediate settlements without additional costs. A pilot involving 2,000 foreign tourists—Project Namsan—illustrated these benefits in practice. If policy consensus is reached within 2026, Korea could become the first major Asian economy to institutionalize a bank-integrated stablecoin framework, blending private innovation with central oversight and laying the groundwork for a new digital money infrastructure.