Chainlink Joins Korea's Stablecoin Race as It Ramps Up Digital Won Ambitions — Here's Why It Matters

Core Insights - South Korea is establishing a domestic stablecoin economy, contrasting with the global crypto market's low-volatility phase [1][2] - Chainlink Labs has joined the Global Alliance for KRW Stablecoins (GAKS), enhancing its role in South Korea's stablecoin infrastructure [3][7] Group 1: Chainlink's Role - Chainlink's entry into GAKS positions it as a core infrastructure partner for KRW-backed stablecoins, aiming to compete with dollar-denominated tokens [3] - The alliance, launched in November 2025, focuses on creating globally compliant KRW-backed stablecoins [3] - Chainlink will provide secure price data, cross-chain settlement, and compliance tools necessary for regulated stablecoins [4][6] Group 2: Previous Initiatives - Chainlink previously collaborated with SOOHO.IO on Project Namsan, targeting KRW stablecoins for foreign exchange and cross-border payments [4] - The firm also participated in Project PAX, a multi-bank interoperability initiative involving major Korean banks and Japanese partners [5] Group 3: Importance of Infrastructure - Infrastructure is crucial for regulated stablecoins, with Chainlink offering essential components like decentralized data oracles and price feeds [6][8] - The Cross-Chain Interoperability Protocol (CCIP) enables secure asset movement across blockchains, enhancing the functionality of stablecoins [8] - Compliance and privacy tools are designed to meet the requirements of regulated financial environments, supporting broader financial use cases [8]