Stablecoin Settlement: Revolutionary Advance for Digital Finance

Key Points

1. Project Namsan is a collaborative initiative between South Korean IT giant NHN and blockchain security firm SOOHO.IO to develop advanced stablecoin settlement infrastructure.

2. The project focuses on improving payment finality, reducing operational costs, and enhancing transaction efficiency for merchants, businesses, stablecoin issuers, financial institutions, and consumers.

3. Key benefits include instant payment finality for merchants, streamlined stablecoin management for issuers, new revenue streams for financial institutions, and low-cost transactions for users.

4. Unlike Central Bank Digital Currencies (CBDCs), Project Namsan is a private sector-led initiative driven by market demand and competitive innovation.

5. A pilot trial for Project Namsan’s stablecoin settlement infrastructure is expected to begin as early as September.