Gyeonggi Province in South Korea plans to launch a stablecoin proof-of-concept test in August

According to a report by etoday, the first-level administrative region of Gyeonggi Province in South Korea officially announced that it will launch a stablecoin proof of concept (PoC) project in August 2026 to explore the feasibility of stablecoins in local currency, government public subsidies, and livelihood payment systems.

The first phase of testing will focus on verifying three core technologies: programmable payments, zero-knowledge proof privacy technology, and a reserve proof mechanism that matches the issuance of stablecoins with reserve assets in real-time, completing the technical verification of the entire process of stablecoin issuance and circulation.

If the first round of testing goes smoothly, the project will enter the second phase of expansion testing from October to December, focusing on assessing fund abuse prevention, transaction privacy protection, business adaptation screening, and collecting feedback from residents and merchants on actual usage, to accumulate practical experience for the subsequent large-scale application of stablecoins.