Laos Ministry of Technology and Communications Explores Blockchain and Fintech Solutions Firsthand
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Seoullabs Targets Financial Inclusion via KIP-Based Stablecoin and SuperWallet
The Ministry of Technology and Communications of Laos is seeking tangible cooperation opportunities in Korea to accelerate its e-government transition and digital economic growth.
According to Seoullabs on the 23rd, Lao Vice Minister Keovisouk Solaphom, accompanied by directors from the Digital Government Center, Cabinet Office, and Department of Digital Technology, led a 20-member delegation to Korea on July 22 to examine blockchain and fintech startups and discuss digital transformation strategies.
The visit, positioned as a strategic step to fast-track Laos’s e-government transition and stimulate its digital economy, aimed to identify the current state of technological ecosystems and explore actionable collaboration plans.
During the visit, the delegation focused on proposals from Seoullabs and Crosshub, two resident companies at Seoul Fintech Lab. Notably, Seoullabs presented a plan for building a “Unified Digital Financial Ecosystem” in Laos, featuring a KIP-backed stablecoin issuance platform integrated with a Lao language-supported SuperWallet.
The proposed ecosystem integrates decentralized identity (DID), electronic document management, multi-asset handling, and QR-based payments, creating a comprehensive platform usable by individuals, enterprises, and government agencies alike.
Seoullabs plans to issue fully collateralized stablecoins backed 1:1 by reserves held in Lao commercial banks, with periodic third-party audits to ensure transparency and trust.
A Seoullabs spokesperson emphasized, “This solution can cut international remittance costs by up to 90%, reduce reliance on USD-denominated settlements, and provide over 4.5 million financially underserved Lao citizens with direct access to digital financial services.”
The company further projected that this initiative could boost Laos’s annual digital economy growth rate by 3–5 percentage points and generate over 1,000 new jobs in IT and fintech sectors. Seoullabs added, “By delivering tailored infrastructure in partnership with the Lao government, banking sector, and rural financial networks, we can help Laos become a leader in digital finance within ASEAN.”
Crosshub, meanwhile, proposed its “ID Block & Block Pay” system aimed at 1.4 billion global travelers. The system links KYC, biometric verification, and DID to enable foreign tourists to make payments seamlessly across Laos using familiar methods like Visa, Mastercard, Stripe, and PayPal. The initiative is expected to enhance payment convenience for tourists while boosting revenues for local small businesses and advancing Laos’s digital economy.
Vice Minister Keovisouk Solaphom praised the collaboration, stating, “Korea’s advanced blockchain technology and vibrant startup ecosystem will be critical drivers for Laos’s e-government and digital economy initiatives. If Seoullabs’ stablecoin and SuperWallet solutions are realized, Laos can simultaneously achieve the dual goals of financial inclusion and economic growth.”
The event concluded with presentations of Seoullabs’ technology and business models, introductions of participating companies, a Q&A session, commemorative photos, and networking.
Seoullabs CEO Do-hee Jang stated, “Following this visit, we plan to establish a joint working group with the Lao government to develop a detailed execution roadmap.” She added, “Leveraging KOICA’s ODA programs and support from the Korean government, we are committed to helping Laos build the digital financial infrastructure it needs.”
Source: NBN TV
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