Blockchain technology startup Seoullabs (CEO Do-hee Jang) announced on the 12th that it will launch a Korean-won-based stablecoin issuance solution, proactively responding to the Yoon administration’s push for digital asset institutionalization and ongoing legislative activity in the National Assembly.
President Lee Jae-myung has consistently emphasized support for digital assets since his presidential campaign, and with a comprehensive digital asset bill recently introduced in parliament, the country is laying the groundwork for a regulated digital asset market. Seoullabs’ initiative is seen as a preemptive move in this evolving landscape.
The bill proposes a pre-approval system under the Financial Services Commission (FSC) for issuing asset-backed digital assets (stablecoins) and mandates that issuers hold sufficient collateral. Industry insiders expect major shifts this year as the government shows strong intent to regulate and institutionalize digital assets.
The FSC had already signaled this direction in mid-April during the second “Virtual Asset Committee” meeting, where it identified stablecoin regulation as a priority and confirmed that a task force would draft detailed legislation targeting implementation by the second half of the year.
Seoullabs’ new solution is centered around a “collateralized stablecoin” model, which clearly separates roles between the issuer and the bank. In this model, a trusted financial institution (such as a bank) transparently manages the underlying KRW collateral, while the issuer uses Seoullabs’ platform to issue and distribute the stablecoin securely. This structure aims to eliminate issuer risk and prioritize asset security for users.
The platform is built on Seoullabs’ proprietary high-performance Layer 1 mainnet, which supports up to 4,000 transactions per second (TPS). With its fast processing speeds and robust security, it is designed for commercial-scale operations. It will also be integrated with payment gateways (PGs), value-added networks (VANs), and other payment systems to support both online and offline transactions.
Seoullabs envisions this solution not only as a stablecoin infrastructure but also as a potential testbed for deposit tokens under future multi-chain central bank digital currency (CBDC) frameworks. The platform offers scalability into other applications, such as:
-
Issuing globally-compliant digital local currencies
-
Enabling foreign tourists to use digital local currencies without currency exchange, through integration with Seoullabs' "SuperWallet" and its decentralized identity (DID) technology
CEO Do-hee Jang stated, “Through years of experience in planning and operating stablecoin-related services, we are confident that stablecoins are the most practical bridge between the real economy and digital assets. The current regulatory momentum presents a major opportunity for firms like ours that are already prepared with safe technology and transparent operational models.”
She added, “We aim to go beyond merely offering technology—we’ll provide full-scale technical consulting and support to help banks and fintech companies successfully operate their own stablecoin businesses.”
Seoullabs is a blockchain startup delivering custom solutions to B2B and B2G markets through its high-performance blockchain mainnet, DID technology, electronic document systems, and integrated payment features within its “SuperWallet.” The company has been recognized for its technological capabilities through government projects, including the Lao government’s electronic approval system, selection in the Busan Startup Package, and residency at the Seoul Fintech Lab.
Source: Joseilbo
0 Comments