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A leading financial company partners with a blockchain investment firm to launch a stablecoin wallet, which will be publicly available next month.
Source: DecenterKorea Original Title: Naver Financial Participation Coin Wallet to be Released Next Month… Expected to Include Stablecoin Functionality Original Link: https://www.decenter.kr/NewsView/2H0LQX2IVB/GZ03 A stablecoin wallet service developed in collaboration between a leading financial company and a blockchain-focused investment firm will be launched next month.
According to news from the financial industry, a financial company has completed the first phase of development for a digital asset wallet “B Wallet” in collaboration with a blockchain investment institution and a local digital asset exchange, and is currently conducting final verification work. Specific service details will be disclosed at the “Blockchain Week” event on the 22nd of next month, where relevant personnel will give a presentation.
This wallet is a digital asset wallet developed by a third party for local citizens since May of this year. A blockchain investment institution provides technical support, and a financial company with payment infrastructure is responsible for wallet activation and operation. These institutions plan to load a feature in the wallet for instant conversion of local digital currencies linked to various national fiat currencies in stablecoin form after the legalization of stablecoins is completed. The bank issuing this local digital currency has begun research on converting it from prepaid cards and points into stablecoins.
The fiat currency stablecoin exchange function is expected to have high demand from overseas tourists. Tourists can easily convert various currencies into local stablecoins for payment by simply depositing them into their wallets, without the need for additional exchange procedures or fees. For a certain financial company, the local digital currency, which already has 1.5 million monthly active users, can be directly integrated into its stablecoin payment ecosystem, which is also its appeal.