Wemade Releases Source Code for Won-Denominated Stablecoin-Dedicated Blockchain 'StableNet'

Wemade announced on the 10th that it has published the testnet source code of "StableNet", Korea's first Layer-1 blockchain mainnet dedicated to won-denominated stablecoins, on GitHub.

StableNet is the brand identity (B.I.) of the won-denominated stablecoin-dedicated blockchain mainnet unveiled at the "Project Stable One" event last September. It is designed to integrate the functions necessary for issuing and operating stablecoins so that companies can more easily adopt and utilize stablecoin technology.

Wemade plans to equip StableNet with user authentication (KYC), anti-money laundering (AML), counter-terrorist financing, and fraud detection (FDS) to strengthen its security and regulatory functions. It also intends to pursue collaboration with major domestic and international technology companies to implement an "oracle" that links external data such as exchange rates, interest rates, and oil prices to the blockchain.

A Wemade official said, "Releasing the StableNet source code demonstrates our commitment to spreading the related technology," and added, "We will build stablecoin infrastructure that complies with financial regulatory environments and lead the 'globalization of K-finance' through global technological cooperation."