Gyeonggi Province, South Korea to Launch Stablecoin Proof of Concept Test in August 2026

Gyeonggi Province in South Korea will initiate 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 validate programmable payments, zero-knowledge proof privacy technology, and a reserve proof mechanism that matches the issuance of stablecoins with reserve assets in real-time. If the first round of testing is successful, the second phase will commence between October and December, assessing measures for preventing fund misuse, protecting transaction privacy, and selecting suitable business adaptations, while also gathering feedback from residents and merchants to accumulate experience for the local scaling of stablecoins.

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