[SDMS2026] "Korean-style stablecoin, technical readiness is complete... Need to bridge the 'gap' between regulation and operation"

On February 4, 2026, during the panel discussion at the “Seoul Digital Currency Summit 2026” held at the Conrad Seoul Hotel, domestic financial institutions and blockchain mainnet experts in South Korea gathered to engage in lively discussions on the theme of “Korean Stablecoin Empirical Model.” The discussion was moderated by Min-Gao Zhang (Head of the SuhoAI team), with panel members including Scott Lee, Korea representative of the Solana Foundation; Justin Kim, Asia representative of Avalanch; Vincent, team leader of the Hana Securities Research Center (Kim Do-Hyun); and Zhao Yuese, team leader of KB Kookmin Card Future Strategy Promotion Department.\n\nThe panel members unanimously agreed that while the efficiency of blockchain technology has been validated, practical application still faces obstacles beyond technology. Zhao Yuese pointed out, “The technical scalability of the mainnet is an obvious advantage, but from the perspective of financial institutions, issues such as responsibility in case of chain failures, governance mechanisms, and fee fluctuations need to be addressed.” He also proposed, “A feasible current model is to handle stablecoins in the background while maintaining the existing payment experience,” and “Foreigners-only prepaid cards based on stablecoins could serve as an initial model.”\n\nMembers from the mainnet side cited overseas cases and emphasized cooperation with regulators. Justin Kim conveyed the on-site sentiment: “In places like Singapore and Japan, regulatory agencies actively step in and lead the commercialization of enterprise-level blockchain projects,” and “Although domestic financial institutions are also considering moving beyond the PoC stage to actual business implementation, they face difficulties due to conflicts with existing laws such as the Credit Information Act.” Scott Lee from the Solana Foundation Korea added, “Overseas, stablecoins are seen as an extension of fiat currency, with fintech companies like PayPal and Visa freely entering the field,” and “Korea, in order to attract global liquidity, also needs to conceive a structure that allows overseas users to access easily.”\n\nVincent, the team leader of Hana Securities and a financial regulation expert, called for a cautious approach from the perspective of financial stability. He suggested, “If stablecoins become active, their potential impact on monetary policy (such as distortions in the money multiplier) will raise deep concerns among central banks,” and “Strengthening credit enhancement and safety measures to prevent financial accidents must come first, and discussions within the regulatory circle can then accelerate.”\n\nThe discussion ultimately concluded that for Korean stablecoins to succeed, beyond technological maturity, there is an urgent need to establish a regulatory framework that does not harm financial stability and to clearly define the roles and responsibilities among operational entities.