'Bank-led won stablecoins risk limiting innovation'

South Korea's proposed bank-led approach to won-backed stablecoins could give institutions with established payment networks little incentive to build alternatives, global industry executives said at a Seoul roundtable Wednesday. "If you give licenses to tier-one banks, as most regulators are inclined to do, there's little incentive to push the boundaries in building out infrastructure compared with giving them to a fintech," said Anthony Koo, head of payments at Singapore-based stablecoin issue

Source: The Korea Herald