iM Bank Starts Building Won Stablecoin Ecosystem With Fintech, Blockchain Partners

iM Bank is moving to build a won-based stablecoin ecosystem as it expands its digital-finance business following its conversion into a commercial bank.

The bank said on April 28 that it signed a business agreement with fintech company Finger and blockchain company Valley Data to jointly develop infrastructure for the distribution of digital won.

The partnership is aimed at building a stablecoin model that combines the reliability of banks with the efficiency of blockchain technology. Through a proof-of-concept project, the three companies plan to establish a system that links and verifies bank deposits and on-chain token issuance in real time. They also plan to develop smart contracts that meet global standards.

The project will also apply post-quantum cryptography, or PQC, for the first time in South Korea. The measure is intended to address future security threats stemming from advances in quantum computing and reflects a strategy to incorporate next-generation cryptography across financial infrastructure.

While dollar- and euro-based stablecoins are spreading rapidly overseas for payments and remittances, South Korea's domestic market remains at an early stage. iM Bank will manage reserves and provide verification functions to strengthen regulatory compliance. Finger will handle integration with existing financial systems, while Valley Data will support global network connectivity and distribution technology.