Danal Demonstrates Won-Based Stablecoin Issuance and Payments for the First Time: "Participants Praise Familiar User Experience"

Danal unveiled an integrated platform encompassing the issuance of won-based stablecoins and real-world payments at the KBW event venue, officially declaring its entry into the market.

On September 24, Danal announced that it had showcased a demo version of its stablecoin-based payment platform, scheduled for official launch in November, at Korea Blockchain Week (KBW) 2025 held in Seoul on September 23. At the event, participants were able to mint (issue) stablecoins (tentatively named KSC) using Korean won and make real-time payments with them at affiliated merchants within the venue.

This demonstration went beyond a simple service introduction, allowing participants to experience the entire process of issuance, distribution, and payment firsthand. As a result, it drew attention from blockchain projects, companies, and investors from around the world attending KBW. In particular, the ease of converting and using stablecoins without complicated procedures led to positive feedback, with many describing it as a "fully developed won-based stablecoin ecosystem combined with Danal's unique distribution infrastructure."

On the demo platform, when a user requested to convert their Korean won into KSC, the stablecoins were instantly issued and sent to their personal wallet. The issued KSC could then be used for payments at on-site merchants via a barcode system, just like ordinary mobile payments, offering participants a user experience that was both familiar and innovative.

Previously, in June, Danal had announced plans to build a SaaS (Stablecoin-as-a-Service) platform, and this demo is an extension of that strategy. Danal plans to further develop the integrated platform beyond simple issuance and payment, incorporating features such as easy payment adoption for merchants, real-time settlement, and distribution management through dashboards.

Additionally, Paycoin (PCI), which is already being used for real-world payments in Korea, is set to undergo rebranding to align with the stablecoin era. Danal is actively considering ways to repurpose Paycoin as a core payment method within the new stablecoin ecosystem. The goal is to seamlessly connect existing users and merchants, while also ensuring flexible scalability in a stablecoin-based payment environment.

A Danal representative stated, "Based on our unique experience operating virtual asset payment services in Korea for several years through Paycoin, we are designing a stablecoin payment ecosystem that is easy for both users and merchants to participate in. As we are already in discussions with numerous global stablecoin projects, we plan to introduce a fully developed platform to the public once it is incorporated into the domestic regulatory framework."

Meanwhile, as a leading player in Korea's stablecoin business, Danal is accelerating the development of payment-centric infrastructure. At this year's KBW, Danal and PayProtocol held an official meeting with global technology platform Axelar to discuss in depth the integration of stablecoin payments with global services such as trade remittance and currency exchange. Earlier, Danal had also announced plans to launch a won-based stablecoin project on the Ripple Network XRPL.