Gyeonggi Province, South Korea, to Launch Stablecoin Proof-of-Concept Test in August

Odaily Planet Daily News Gyeonggi Province, a first-level administrative region 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 using stablecoins for local currencies, government public subsidies, and the livelihood payment system. The initial test will focus on verifying three core technologies: programmable payments, zero-knowledge proof privacy technology, and a reserve proof mechanism that ensures real-time matching of stablecoin issuance with reserve assets, thereby completing the full-process technical verification of stablecoin issuance and circulation.

If the first phase of testing goes smoothly, the project will enter a second phase of expanded testing from October to December. This phase will focus on assessing the prevention of fund misuse, transaction privacy protection, and suitable business screening, while also collecting actual usage feedback from residents and merchants, to accumulate experience for the future large-scale application of stablecoins in local areas. (etoday)