Latest News and Articles about Bank of Korea
South Korean Banks Launch Won-Backed Stablecoin to Rival Foreign Crypto Giants
Eight South Korean Banks Unite for Won-Backed Stablecoin: A Power Play Against Foreign Crypto Dominance Eight of South Korea’s top commercial banks have banded together to launch a won-backed stablecoin, a groundbreaking move by the private sector to challenge the growing shadow of foreign dollar-pegged cryptocurrencies. This bold consortium, backed by key regulatory bodies, is […]
Read MoreBank of Korea Doubts Won Stablecoin as Circle Pushes for South Korean Crypto Market Entry
Bank of Korea Digs In: Skepticism Over Won Stablecoin Persists Despite Circle’s Charm Offensive South Korea, often hailed as the crypto capital of Asia, is caught in a high-stakes tug-of-war over the future of digital money. The Bank of Korea (BOK) remains deeply wary of issuing a won-pegged stablecoin, even as Circle, the powerhouse behind […]
Read MoreSouth Korea Rejects Bitcoin Reserves, Echoing Global Central Bank Caution
South Korea Joins Global Choir in Rejecting Bitcoin Reserves Amid Crypto Enthusiasm On March 17, 2025, South Korea’s central bank, the Bank of Korea, announced its rejection of Bitcoin as a reserve asset, citing the cryptocurrency’s notorious volatility. Despite the country’s vibrant crypto scene, this decision aligns with global trends where other major central banks […]
Read MoreSouth Korea Rejects Bitcoin Reserves, Explores Won-Backed Stablecoin
Bitcoin In Reserves? South Korea’s Central Bank Won’t Bite South Korea’s central bank, the Bank of Korea (BOK), has firmly rejected the inclusion of Bitcoin in its foreign exchange reserves, citing the cryptocurrency’s significant price swings and failure to meet International Monetary Fund (IMF) standards. However, local advocates and legislators are pushing forward with plans […]
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