Media: Busan, South Korea will issue "stabilized coins" based on blockchain technology

On July 1, according to a person familiar with the matter, Busan City of South Korea and BNK Busan Bank are promoting digital vouchers based on blockchain technology. It is reported that this is a local currency similar to a stable currency, and one stable currency is equal to 1 won. The partner company will be selected at the end of this month. In addition, Busan Bank Digital Finance will begin construction of the platform with selected companies starting next month. The local currency wallet will be developed during the year and will be responsible for the management and operation of payment settlement services.