Axelar (AXL) announced that it has completed a technology verification (PoC) in collaboration with XRP Ledger Korea and Hana Financial TI to examine the issuance, distribution, and settlement structure of KRW-based stablecoins. According to Herald Economy, this verification was conducted to confirm whether KRW-based digital assets could be utilized in actual financial institution environments, in preparation for the potential institutionalization of stablecoins. The three institutions focused on examining operational possibilities during the verification process, including the management of stablecoin issuance and circulation, asset movement and settlement structures between different blockchains, and control functions required by financial institutions.
