Wemade "Preparing to Form a Korean Won Stablecoin Consortium… PoC Planned for the End of This Month"

Wemade announced that it is preparing to create a consortium to participate in the Korean won stablecoin ecosystem. With ongoing discussions regarding relevant regulations, the company emphasized its role as a technology contributor.

According to the industry on the 8th, Wemade stated in the Q2 earnings conference call held that day, "We share the market's perspective that stablecoins will become a global currency protocol," adding, "Rather than leading the efforts alone, we are exploring ways to contribute to industry advancement through a consortium-based approach."

The company explained that it is building relevant foundational systems based on its experience with its mainnet 'WEMIX 3.0', DeFi (decentralized finance) platform 'Currency', and decentralized autonomous organization (DAO) operations. In particular, they are independently developing a validator system capable of verifying the entire lifecycle of the Korean won stablecoin, and plan to complete proof-of-concept (PoC) by the end of this month.

Wemade added, "We plan to commercialize the related system within this year, while also working to form a consortium through external collaborations."