South Korea's Gyeonggi Province Plans to Launch Stablecoin Proof-of-Concept Test in August

Odaily reported that Gyeonggi Province, a first-tier administrative division in South Korea, officially announced that it will launch a stablecoin Proof-of-Concept (PoC) project in August 2026. The project aims to explore the feasibility of applying stablecoins to local currencies, government public subsidies, and the livelihood payment system. The initial testing phase will focus on verifying three core technologies: programmable payments, zero-knowledge proof privacy technology, and a reserve proof mechanism that ensures real-time matching between stablecoin issuance volume and reserve assets, thereby completing the full-cycle technical verification of stablecoin issuance and circulation.

If the first round of testing proceeds smoothly, the project will enter a second expansion testing phase from October to December, focusing on evaluating the prevention of fund misuse, transaction privacy protection, and the selection of suitable business applications. It will also collect actual usage feedback from residents and merchants, accumulating practical experience for the subsequent large-scale application of stablecoins at the local level. (etoday)