Circle has no immediate plans for a Korean won stablecoin and intends to deepen its presence in the Korean market through technology exports.

Techub News reported, according to DL News, Jeremy Allaire, CEO of stablecoin issuer Circle, stated at an event in Seoul that the company currently has no plans to directly issue a Korean Won-pegged stablecoin. Jeremy Allaire pointed out that while he believes a Korean Won stablecoin is crucial for maintaining South Korea's competitiveness in global finance, limited by the local regulatory environment, Circle prefers to play the role of a technology partner. He revealed that the company is closely monitoring the progress of stablecoin legislation in the South Korean National Assembly. If future regulatory frameworks allow access for global enterprises, Circle is willing to apply for relevant licenses and establish a branch in South Korea.

Currently, Circle has engaged with local mainstream financial institutions and trading platforms such as KB Kookmin Bank, Shinhan Bank, Hana Bank, and Coinone. Circle plans to provide technical support and infrastructure services for South Korean institutions interested in issuing stablecoins, aiming to share in the growth of the South Korean crypto market under compliant premises.