InskoB and Parameta Begin Development of Korean Won Stablecoin-Based Local Currency

KOSPI-listed company InskoB (co-CEOs Yoo Insu and Koo Jagap) announced on June 11 that it has begun developing a next-generation local currency based on a Korean won-pegged stablecoin, in collaboration with blockchain technology company Parameta (CEO Kim Jonghyup). The project is being carried out under a joint development agreement and is described as a preemptive investment that directly targets the government's digital transformation policy trend.

The two companies stated that, through this collaboration, they aim to structurally replace the technical and administrative limitations of existing local currencies such as paper gift certificates or point-based systems, and to build an entirely new digital budgeting system through a 'stablecoin linked to the value of the Korean won.'

This project fundamentally differentiates itself from the existing concept of local currency in that it can function as a blockchain-based public infrastructure necessary for the digitalization of government budgets, going beyond a simple payment method. In particular, a stablecoin-based local currency offers outstanding performance in areas such as real-time settlement, usage tracking, and prevention of budget leakage, directly meeting the needs of governments and local authorities in terms of administrative efficiency.

Parameta, the technology partner, is a company that has inherited the core technology of the global blockchain project 'ICON (ICX).' After changing its name from ICONLOOP, Parameta has supplied various DID, smart contract, and authentication systems to public institutions and large corporations.

The official service is currently under development with a target launch in the second half of 2025. InskoB plans to solidify its position as a leading company by being the first to commercialize a stablecoin-based platform in the local currency market.

An InskoB representative stated, "We are developing not just a simple local currency system, but a next-generation governance infrastructure that enables governments and local authorities to control and execute finances through digital assets," adding, "The company that enters this market first will ultimately set the new rules."