Gate News, April 13, the governor nominee of the Bank of Korea, Shin Hyun Song, said that a central bank digital currency (CBDC) and deposit tokens issued by commercial banks based on it should become the core of the digital currency ecosystem. Shin Hyun Song noted that although he supports introducing won-denominated stablecoins, maintaining monetary trust remains the top priority. He believes that stablecoins have a positive role in areas such as tokenization of assets, trading, and programmability, and in the future they may complement or compete with deposit tokens. Regarding the issuer of a Korean won stablecoin, he suggested that priority should be given to allowing a bank-led consortium, and then gradually expanding non-bank institutions’ participation to ensure compliance capabilities. On the view that stablecoins improve foreign exchange trading efficiency, he said that it is necessary to carefully assess whether blockchain can effectively comply with relevant regulatory requirements.
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