Dollar-based stablecoins are gaining attention as a fast and cost-effective means of international payment, significantly reducing fees and processing times compared to traditional bank transfers. However, as the circulation of dollar stablecoins expands domestically, issues such as the formation of prices above the actual exchange rate and increased price volatility are emerging, which contradicts their original purpose. To address these problems and strengthen domestic financial sovereignty, the introduction of a 'Korean won stablecoin' is being discussed.

New York State in the United States has secured the credibility of stablecoins through strict regulations regarding issuance permits, redemption obligations, and reserve asset management. Similarly, the European Union (EU) has established regulations on issuer qualifications, reserve asset requirements, and disclosure obligations through the MiCA legislation, which will come into effect in 2024. Japan is also defining stablecoins as electronic payment methods and is clearly regulating issuance and transaction processes.

As major countries are establishing regulations for stablecoins, there is an increasing necessity for the introduction of a Korean won stablecoin to defend against the expanding dominance of dollar-based stablecoins, prevent capital outflows, and promote the development of the fintech industry through integration with various financial services such as P2P, card payments, and remittances. This would also lay the groundwork for the international use of the Korean won in the digital age.