Why does the Bank of Korea want banks to issue stablecoins?

The Bank of Korea said banks should lead the issuance of won-denominated stablecoins because they already operate within the regulated financial system. The central bank also called for safeguards and oversight involving government agencies.

What are deposit tokens that the Bank of Korea is testing?

The Bank of Korea said deposit tokens are digital tokens backed by commercial bank deposits. The central bank plans to expand trials for government payments, vouchers, electric vehicle charging and other public transactions this year.

Why has South Korea's Digital Asset Basic Act been delayed?

South Korea's Digital Asset Basic Act has been delayed because lawmakers remain divided over who should be allowed to issue stablecoins. The Bank of Korea continues to support bank-led issuers, while broader policy discussions are ongoing.

What is the Bank of Korea's position on central bank digital currencies?

The Bank of Korea supports both deposit tokens and central bank digital currencies as part of its digital payments strategy. The central bank said it will continue developing real-world use cases through expanded pilot programs.

When could South Korea introduce its digital asset law?

The South Korean government originally aimed to introduce the Digital Asset Basic Act by the first quarter of 2026. The timetable has slipped because of political changes, geopolitical events and delays in the parliamentary process.

Image for illustrative purposes only. Not a real photo.

Bank of Korea backs bank-led stablecoins

Written by Mahathir BayenaPublished Jul 10, 2026, 1:16 AM

The Bank of Korea repeated its support for banks to lead won-backed stablecoin issuance.
The central bank is expanding deposit token trials for government payments and public services.
The disagreement over stablecoin issuers continues to delay South Korea's digital asset bill.

The Bank of Korea said won-denominated stablecoins should first be issued through bank-led consortiums as lawmakers continue debating digital asset rules.

The central bank also urged lawmakers to introduce safeguards, including priority issuance by bank-led groups and a policy body involving government agencies.

The Bank of Korea said it will expand deposit token trials this year to support government payments, vouchers, electric vehicle charging and other public transactions.

The central bank has backed deposit tokens and central bank digital currencies while supporting wider testing of tokenised payments.

The debate over stablecoin issuers has delayed South Korea's Digital Asset Basic Act, with lawmakers still divided over whether non-bank firms should issue stablecoins.

The government had aimed to introduce the bill by the first quarter of 2026, but the timetable has slipped because of political and geopolitical delays.