PANews reported on September twenty second that South Korean blockchain know-how firm SOOHO.IO just lately launched Project Namsan, an alliance initiative aimed toward selling the event of a South Korean received stablecoin ecosystem, with Chainlink taking part as a key technical accomplice. The alliance has efficiently launched a pilot utility for international vacationers as its first use case. Customers can deposit US greenback stablecoins and obtain digital South Korean received tokens for spending, at a 30% decrease price than conventional international alternate channels.
SOOHO.IO and Chainlink beforehand partnered in 2024 to develop use instances for tokenized property and central financial institution digital currencies in Asia, laying the inspiration for this new partnership. Moreover, SOOHO.IO’s earlier collaboration with the Financial institution of Korea on Objective Sure Cash (Objective Sure Cash) additionally laid the inspiration for this alliance, leveraging a programmable method to controlling the usage of stablecoins.
The Namsan Community is powered by the Chainlink Cross-Chain Interoperability Protocol (CCIP), enabling integration with a number of public and personal blockchains. Chainlink additionally supplies steady verification of stablecoin reserves. This collaboration ensures that Korean received tokens are issued solely after stablecoin settlement has been verified, making a delivery-versus-payment (DvP) mannequin that ensures transparency and reliability in the international alternate buying and selling course of.
