Chainlink (LINK) has teamed up with LG CNS, the IT and AI services division of South Korea's LG Group, to boost the infrastructure supporting the country's $68 billion crypto market. The partnership will focus on expanding the use and availability of Korean stablecoins, a growing segment with over 11 million eligible users.
South Korea currently lacks clear regulations for the commercial issuance and trading of stablecoins pegged to the Korean won. However, the government is working on the Digital Asset Basic Act, which would establish rules for won stablecoins and other digital asset standards.
Beyond stablecoins, LG CNS plans to integrate Chainlink's cross-chain, data, and orchestration tools into its digital asset platform solutions for Korean institutions. The collaboration aims to advance the country's digital asset framework by combining their expertise.
Hongkeun Kim, executive vice president and head of digital business division at LG CNS, stated, "Korea's financial infrastructure is entering the tokenization era. LG CNS is committed to leading this transition, and together with Chainlink, we aim to accelerate the growth of Korea's tokenized securities market by enabling secure interoperability and real-world data, while creating a foundation for global expansion."