Alisa Davidson
Printed: September 22, 2025 at 5:39 am Up to date: September 22, 2025 at 5:42 am
Edited and fact-checked:
September 22, 2025 at 5:39 am
In Transient
SOOHO.IO has launched Undertaking Namsan in collaboration with Chainlink, pioneering the Korean gained stablecoin ecosystem with a profitable pilot providing vacationers cost-effective international change utilizing USD-based stablecoins and KRW-denominated digital vouchers.
Blockchain expertise firm, SOOHO.IO introduced that it has launched Undertaking Namsan, a consortium initiative geared toward pioneering the Korean gained stablecoin ecosystem, with Chainlink becoming a member of as a key technical companion. The consortium has accomplished a stay pilot for international vacationers, permitting members to deposit USD-based stablecoins and obtain KRW-denominated digital vouchers for funds at a value over 30% decrease than conventional international change channels.
The Namsan community is powered by the Chainlink Cross-Chain Interoperability Protocol (CCIP), connecting to a number of private and non-private blockchains, whereas Chainlink Proof of Reserve ensures steady verification of stablecoin reserves. This integration ensures that KRW vouchers are issued solely after stablecoin settlement is validated, utilizing a Supply-vs-Fee (DvP) mannequin that establishes a clear and dependable international change course of.
CCIP was chosen for its strong safety mannequin, with its consensus layer supported by the identical Chainlink Decentralized Oracle Community (DON) infrastructure that secures over $100 billion in decentralized finance (DeFi) whole worth locked (TVL) and has facilitated trillions of {dollars} in on-chain transactions since 2022. Chainlink Proof of Reserve has grow to be the business commonplace for on-chain reserve transparency, making certain that tokenized property comparable to stablecoins, real-world property, and wrapped tokens stay totally collateralized by impartial on-chain verification.
This pilot, which started in July, is being carried out in collaboration with a number of Korean public enterprises, together with Grand Korea Leisure (GKL), a public company working the foreigner-only on line casino ‘Seven Luck.’ GKL attracts roughly 1.5 million worldwide guests yearly and has branches at main vacationer places, together with the Gangnam COEX department. This strategic initiative highlights the potential of programmable cash and verifiable knowledge requirements in advancing Korea’s stablecoin ecosystem and driving future monetary improvements.
Chainlink And SOOHO.IO Improve Blockchain Safety And Digital Asset Options In Asia
Chainlink is a number one oracle platform acknowledged because the business commonplace, enabling the mixing of capital markets with blockchain and supporting nearly all of DeFi purposes. The Chainlink ecosystem supplies important providers comparable to knowledge, interoperability, compliance, and privateness options, that are crucial for powering superior blockchain use circumstances together with institutional tokenized property, lending, funds, stablecoins, and extra. For the reason that invention of decentralized oracle networks, Chainlink has facilitated transactions value tens of trillions of {dollars} and at the moment secures many of the DeFi house.
The most recent initiative builds on the strategic collaboration between SOOHO.IO and Chainlink, established in 2024, to collectively develop tokenized asset and central financial institution digital foreign money (CBDC) purposes throughout Asia. It additionally expands upon SOOHO.IO’s earlier work with the Financial institution of Korea on Function Certain Cash (PBM), an answer enabling programmable controls on using stablecoins.
Based in 2019, SOOHO.IO has secured over 3.2 trillion KRW in digital property by its blockchain safety expertise and has gained recognition for its technical experience by contributing to the Financial institution of Korea’s CBDC digital voucher mission. SOOHO.IO’s flagship product, ‘Touchstone,’ is a consortium blockchain infrastructure designed for monetary establishments, enabling the safe issuance and distribution of digital property. Moreover, the corporate’s PBM growth platform, ‘Purplace,’ allows the creation of programmable digital currencies that apply situations to funds, providing revolutionary monetary providers.
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About The Creator
Alisa, a devoted journalist on the MPost, makes a speciality of cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a eager eye for rising tendencies and applied sciences, she delivers complete protection to tell and interact readers within the ever-evolving panorama of digital finance.
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Alisa, a devoted journalist on the MPost, makes a speciality of cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a eager eye for rising tendencies and applied sciences, she delivers complete protection to tell and interact readers within the ever-evolving panorama of digital finance.
Extra articles
