The Korean company fanC has partnered with Initech to pilot the KRW stablecoin.

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According to Mars Finance, on August 6, the Korea Herald reported that South Korean digital token developer and issuer fanC has partnered with local financial software company Initech to trial the KRW stablecoin, which is pegged to the Korean won at a 1:1 ratio. This is the first digital asset based on the Korean won to be issued by a private entity with potential applications in the real economy. fanC stated that this issuance is a demonstration version aimed at testing the technical feasibility of KRWIN, including transferability and practical application. The issuance will be limited to a selected group of internal members and partner platforms for evaluation. Once KRWIN officially launches, it is expected to be applied in payments, global remittances, tourism, and other fields. Last month, fanC submitted a trademark application for KRWIN and its related technology to the Korean Intellectual Property Office.

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