Meet The First Korean Won-Backed Stablecoin
Fintech company BxB Inc from South Korea launched the first stablecoin backed by national currency of the countru – won (KRW).
KRWb coin beta tested was held on Airswap exchange before the global launch. According to the company’s claims, KRWb is already abailable on three exchanges. The company is negotiating with other platforms regarding listing.
The stablecoin is backed by won (1:1), initial deposit is worth of 400 million KRW ($360 000) for appropriate issue of KRWb was made by a Korean company and BxB Capital, based in Singapour.
KRWb stablecoin is ERC-20 coin.
To recap, the largest stablecoins, such as Tether’s USDT, Circle’s USD Coin(USDC), Paxos Standard (PAX) from blockchain startup Paxos and Gemini Dollar (GUSD) from Gemini Trust are backed by dollar. But the projects of stablecoins backed by Euro, British pound, Australian dollar, Japanese yen and even bitcoin are already being implemented.