Wemade Enters Korean Won Stablecoin Market: "Leading the Globalization of K-Finance"

'Stable One' Mainnet to Launch in Q1 Next Year
Strengths in Compatibility and Transparency...
Aiming to Resolve User Inconvenience through Mass Adoption
"We Will Form a Consortium with Partners to Expand the Market"

Wemade, a domestic gaming company, has officially announced its entry into the Korean won stablecoin business. The company plans to launch its dedicated blockchain mainnet, 'Stable One,' in the first quarter of next year.

Kim Seokhwan, CEO of WEMIX Foundation, officially announced Wemade's entry into the Korean won stablecoin business and introduced 'Stable One' on the 18th at Ambassador Seoul Pullman in Jung-gu, Seoul. Photo by Noh Kyungjo

Kim Seokhwan, CEO of WEMIX Foundation, held a technology demonstration on the 18th at Ambassador Seoul Pullman in Jung-gu, Seoul, and stated, "As a leading player in the Korean won stablecoin sector, we aim to spearhead the globalization of K-finance." He added, "Just as K-culture has achieved global success through various platforms, the Korean won can create a new financial Korean Wave by meeting the innovative platform of stablecoins."

'Stable One' is fully compatible with Ethereum, where most existing stablecoins are currently circulated. Services developed for other stablecoins can be transferred and used without modification. Additionally, it can process over 3,000 payment transactions per second at ultra-high speed.

Transparency is also a key strength. The platform supports compliance features such as tracking wallet-to-wallet transfers for anti-money laundering purposes, as well as real-time abnormal transaction detection and emergency transfer suspension functions. By opening up its application programming interface (API), it allows access to financial reports. The platform also enhances user convenience by supporting 'native fees,' enabling users to pay transaction fees directly with the stablecoin to be issued.

Wemade plans to expand the market in partnership with other companies as a blockchain technology partner. CEO Kim emphasized, "Wemade does not intend to become a financial institution or a sole stablecoin issuer," and added, "We aim to participate in the Korean won stablecoin business by forming a consortium with strong partners as contributors of blockchain technology."

He further stressed, "We must move beyond the limited perspective of payment and remittance services and secure differentiated competitiveness," and called on the National Assembly and the government to participate in building the Korean won stablecoin ecosystem. He also suggested, "By establishing a stablecoin bank, we can address user inconvenience and anxiety, and by creating a virtual asset depository (tentative name), we can ensure public interest."

During the technology demonstration, Wemade showcased the issuance, burning, and transfer of a tentatively named 'KRC1' stablecoin, as well as its use for payments at a virtual merchant.

An Yongwoon, Chief Technology Officer (CTO) of Wemade, stated, "'Stable One' is a blockchain designed to compete with global stablecoin issuers, ensuring global compatibility, high-performance data processing, and compliance with regulatory and security requirements. After completing internal testing, we plan to open the pure source code, excluding additional services, next month."

He added, "With the testnet of the 'Stable One' chain to be released in November, external developers will be able to build coin wallets and other applications. If the stability of related services such as financial service connectivity and anti-money laundering features is verified, we will officially launch 'Stable One' in the first quarter of next year."

This content was produced with the assistance of AI translation services.