{"id":34605,"date":"2025-07-01T14:46:55","date_gmt":"2025-07-01T14:46:55","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=34605"},"modified":"2025-07-01T14:46:55","modified_gmt":"2025-07-01T14:46:55","slug":"south-korean-exchange-upbit-to-work-on-won-stablecoin-with-naver-pay-report","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=34605","title":{"rendered":"South Korean Exchange Upbit to Work on Won Stablecoin With Naver Pay: Report"},"content":{"rendered":"
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South Korean cryptocurrency exchange Upbit is working with payments company Naver Pay to promote a won (KRW) stablecoin initiative, KBS reported<\/a>, citing an unidentified official from Dunamu, Upbit’s parent company.<\/p>\n

The two companies are pursing a payments business based on the stablecoin, the official said, although details remain sparse. A stablecoin is a crypto token whose value is pegged to a real-life asset<\/a> such as the dollar or gold. <\/p>\n

“We will specify the scope and methods of cooperation as soon as the relevant system is established,” the official told KBS.<\/p>\n

Korea’s crypto-friendly president, elected at the beginning of June, has said he support<\/a>s a “won-based stablecoin market,” a stance that earlier this week spurred the Bank of Korea to halt plans<\/a> to roll out a central bank digital currency (CBDC).<\/p>\n

A KRW stablecoin is likely to be an important event for local crypto traders, who have grappled with restrictions around moving KRW in and out of the country. That’s led to a large spread and arbitrage opportunities, the trade that pocketed FTX founder Sam Bankman Fried<\/a> his first notable wealth. <\/p>\n

The spread between South Korean and U.S. exchanges has often been labeled as the “kimchi premium.”<\/a> The roll out of a KRW stablecoin, as long as it is tradable on-chain, would mean that traders can simply swap that stablecoin for USDT or USDC, bypassing fiat restrictions in the region and essentially ironing out any significant spreads in price.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

South Korean cryptocurrency exchange Upbit is working with payments company Naver Pay to promote a won (KRW) stablecoin initiative, KBS reported, citing an unidentified official from Dunamu, Upbit’s parent company. The two companies are pursing a payments business based on the stablecoin, the official said, although details remain sparse. A stablecoin is a crypto token […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-34605","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34605"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34605\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}