Patrick Yoon, CEO of Korea Investors Service / Courtesy of Korea Investors Service
Korea Investors Service (KIS) continues to monitor the digital asset landscape in Korea and is exploring the feasibility of market participation, subject to the establishment of a regulatory framework, according to CEO Patrick Yoon.
KIS, one of Korea's leading credit rating agencies and an affiliate of Moody's, has established a dedicated digital assets team and is developing methodologies that could be used to assess Korean won-backed stablecoins once legislation is in place.
"Once won-backed stablecoins are created, an ecosystem needs to be built to ensure they can be used effectively. They need to function well not only in Korea but also overseas for a proper stablecoin system to take shape. We believe there is a role that KIS can play in that process," Yoon said in a recent interview with The Korea Times.
"If we can establish a stablecoin assessment system tailored to Korea, the digital asset market can be evaluated more transparently and various risks can be managed more effectively," he added.
