Bank of Korea calls for bank-only rollout of won stablecoins on Feb 23, 2026

In a report on February 23, 2026, the Bank of Korea urged that only licensed commercial banks be allowed to issue won-backed stablecoins at the outset. Options under debate include a bank-led consortium with at least 51% equity control and 100% reserves in high-quality liquid assets, following a February Bithumb error involving $40 billion that heightened stability concerns.