fanC Launches Korea’s First Won-Pegged Stablecoin KRWIN

South Korean company fanC, in collaboration with local fintech firm Initech, launched on Tuesday the country's first won-pegged stablecoin, named KRWIN. The launch is a demo release aimed at testing the technical feasibility and practical applicability of the digital currency. KRWIN is pegged at a 1:1 ratio to the South Korean won and marks the first issuance of such a digital asset by a private entity in the country.

At this stage, the token’s circulation is limited to an internally selected group and affiliated platforms. The goal is to evaluate its performance in transfers, payments, and other practical applications.

According to fanC’s official statement, the token has potential uses in payments, global remittances, and tourism, contributing to the broader adoption of stablecoins in the real-world economy.