🇰🇷 South Korean fintech firm launches ‘first’ won-backed stablecoin

BxB Inc., a South Korean fintech firm, has launched the countries first stablecoin, KRWb, pegged one to one to the Korean won. A soft-test was conducted earlier this month via AirSwap ($AST), as outlined in BxB's medium post. The coin is built on Ethereum's ($ETH) smart contract technology and was audited by a third party. The coin is backed by an initial supply of 400 million won ($360,000) and collateral. KRWb is claimed to be listed on three exchanges already.