- Samsung joins banks to develop KRW stablecoins.
- The companies plan to build a consortium after the stablecoin law is passed.
- This partnership intends to foster the growth of KRW stablecoins against the dollar-backed tokens.
Samsung has joined hands with South Korea’s Shinhan and Hana Financial Groups to create a system for issuing and using KRW stablecoins. This strategic collaboration aims to make digital won coins more widely accessible and competitive, especially against dollar-backed stablecoins.
The three platforms plan to form a consortium once stablecoin legislation is in place. As per reports, executives from each firm have been holding detailed discussions. Samsung intends to bring its technology and expertise to the partnership, making it a key player in the stablecoin venture.
South Korea’s Stablecoin Journey: Samsung and Banks Unite
According to the latest reports, Samsung is partnering with South Korea’s banking giants– Shinhan and Hana Financial Groups- to establish a consortium for KRW stablecoins. The three platforms will work together to issue and support South Korea’s digital currency, especially placing it ahead of other stable tokens.
The companies highlight the importance of a “national-level” stablecoin alliance. On January 26, 2026, Samsung and the banks jointly agreed to form a “Coin Dream Team.” The project aims to support the growth of KRW-stablecoins, while won-backed tokens currently lag behind US tokens. A key financial official stated,
“Chairman Jin met not only Chairman Ham but also Samsung’s key management several times. I understand that both Hana and Samsung have expressed positive positions.”
Many companies have already approached Samsung for the stablecoin project. A Samsung official noted, “I understand that companies related to stablecoins have contacted all of them at least once.” Highlighting Samsung’s potential, a spokesperson noted,
“If Galaxy phones and Samsung wallets, Samsung Electronics with global manufacturing and distribution bases, and Samsung SDS with blockchain-related technologies, synergy can be maximized.”
Finally, the company opted for the Shinhan and Hana Financial Groups. While Shinhan Financial Group Chairman Jin Ok-dong and Hana Financial Group Chairman Ham Young-joo shared their interests, Samsung selected them as the company’s official partners for the project.
Shinhan Financial Group also brings a strong international presence and a diverse business portfolio, while Hana Financial Group is building close ties with Dunamu and Naver. Together, these two financial giants are expected to developa range of products and handle key tasks like managing reserves and overseeing risk when the KRW stablecoins are issued.
The companies also intend to extend their partnership. They believe that the incorporation of more brilliant partners into the venture could make the stablecoin more competitive. Potentially, more players like KB Financial Group and Woori Financial Group are likely to join the collaboration.
South Korea Stablecoin Regulation
South Korea has been actively working to launch crypto regulations, particularly focusing on stablecoins. However, the rules are currently at a standstill as authorities debate who should be allowed to issue the tokens.
The Financial Services Commission’s proposed Digital Asset Basic Act intends to impose strict investor protections to safeguard them from potential threats. The proposal also requires stablecoin reserves to be held in bank deposits or government bonds.
The law could also allow local ICOs under strict disclosure and risk management rules, but disagreements remain. The Samsung stablecoin project is also a result of the regulator’s proposal that mandates a bank-led consortium to issue the stablecoins.
