fanC and Initech jointly launched the test issuance of KRWIN, South Korea's first stablecoin anchored to the Korean won

According to the Korea Herald, digital platform fanC and financial software company Initech have jointly launched a test issuance of KRWIN, South Korea's first won-pegged stablecoin, which is pegged 1:1 to the Korean won. The first phase is limited to internal members and partner platform testing of transfers and application scenarios. KRWIN is intended to be used for payments, cross-border remittances, and tourism in the future. fanC stated that this aims to build a stablecoin foundation combining financial security and blockchain technology, and to construct online e-commerce, content consumption, and offline payment scenarios for visits to Korea. Last month, fanC submitted a trademark application for KRWIN and its related technologies to the Korean Intellectual Property Office.