Wemade Enters Won Stablecoin Market

Coin settlement·payment system business

"Processing 3,000 data per second"

Wemade has entered the won stablecoin settlement and payment system business. Kim Seok-hwan, vice president of Wemade, said on the 18th, "We will take the lead in 'globalizing K-finance'," adding, "The won will meet the innovative platform of stablecoins to create a new wave of Korean finance."

The platform Wemade unveiled that day is the blockchain mainnet 'Stable One'. It acts as an intermediary so that stablecoin issuers can trade coins within the platform. Kim said, "Stable One can process more than 3,000 payment data per second based on technology optimized for both the global market and the domestic environment."

Wemade touted as an advantage that it embedded anti-money laundering functions by applying blockchain technology. It also enhanced transparency and security by detecting abnormal transactions in real time to halt fund transfers or by providing financial reports through an open application programming interface (API). An Yong-un, Wemade Chief Technology Officer (CTO), said, "Stable One is a next-generation blockchain that combines global compatibility and high-performance data processing capabilities," adding, "It is designed to meet regulatory and security requirements so it can compete with global stablecoin issuers."

Wemade plans to release the source code of Stable One as open source in October. It aims to officially launch in the first quarter of next year after stability verification.

Ahn Jeong-hun, reporter ajh6321@hankyung.com