Coupang and Woori Bank Complete Won Stablecoin Real-Time Settlement Test

Coupang and Woori Bank have successfully completed a real-time settlement proof-of-concept (PoC) using a won stablecoin, marking the first case in South Korea to verify the full process. The test used Tempo, a Layer 1 blockchain tailored for stablecoins, which is being developed with Coupang as an early partner and investor.

The PoC simulated multiple scenarios where payments for orders on Coupang Eats were transferred and settled in real-time to merchants through a won stablecoin. Woori Bank linked digital wallets with bank accounts, and the companies built an on- and off-ramp process that allows won stablecoins and fiat currency to be converted into each other.

The test confirmed the feasibility of applying won stablecoins to real-world payment and settlement processes and checked operational stability. The two companies plan to continue cooperating in blockchain-based payment technology under a strategic business partnership.