iM Bank Completes Proof-of-Concept for KRW Stablecoin on May 20, Implements Full Lifecycle Issuance to Redemption

KAIA3.9%
According to iM Bank, on May 20, the bank completed a proof-of-concept (PoC) for a KRW-denominated stablecoin with digital asset infrastructure company OpenAsset, implementing the full lifecycle of issuance, deposits, settlement, and redemption. The bank issued iMKRW on the Kaia blockchain network using OpenAsset's OpenMint stablecoin issuance platform and tested the entire process—from user deposits to QR-based payments and merchant settlements—through its digital wallet service DAGAON. The pilot operation successfully ran approximately 80 test scenarios without errors.
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