Chainlink signs Project Hangang contractor LG CNS to expand Korean won stablecoins

LG CNS, the company building the Bank of Korea’s digital currency platform called Project Hangang, announced a partnership with Chainlink to bolster won-pegged stablecoins and digital asset infrastructure for institutions in South Korea, the two companies said Thursday. Seoul still lacks legal basis for commercial won stablecoins. Partners count more than 11 million eligible users LG CNS, the IT arm of LG Group, will incorporate Chainlink’s cross-chain, data and orchestration infrastructure into its Digital Asset Platform Solution for Korean institutions. The companies said the setup connects blockchain networks with institutional systems. The firms reckon the won stablecoin segment to be more than 11 million eligible users, in a Korean digital asset market they value at $68 billion.

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