The Central Bank of Korea proposed to provide Central Bank support for stablecoins.

According to Golden Finance, during a joint event that brought together industry and academia focusing on the topic of stablecoins, the head of the South Korean Central Bank Digital Currency Research Laboratory expressed views on stablecoins, stating that stablecoins need to obtain support and guarantees from the central bank. South Korean central bank official Yun Sung-guan stated, “Stablecoins are not a new type of currency, but rather the result of tokenization of existing currencies on a distributed ledger.” He further added, “To achieve stable operation, support and guarantees from the central bank are ultimately still needed.”