#bok

The post BOK Doubles Down on Bank-Led Stablecoins as Deposit Token Pilots Advance appeared on BitcoinEthereumNews.com. The Bank of Korea (BOK) has doubled down on its stance that won-denominated stablecoins should first be issued through bank-led consortiums. According to local reports from Digital Asset and EDaily, the central bank made the comments in materials submitted on Thursday to the National Assembly’s finance committee. Local outlets reported that the BOK called for safeguards, including priority issuance by bank-led consortiums and a statutory policy body involving relevant agencies. The latest comments reinforce the BOK’s months-long push to keep won stablecoin issuance under bank-led structures. The central bank’s stance has divided policymakers and industry groups and contributed to delays in South Korea’s digital asset bill. The BOK also said it plans to continue developing deposit-token use cases in the second half of the year, including support for government subsidy p

The post South Korean Won: Undervaluation and BOK outlook aid won – BBH appeared on BitcoinEthereumNews.com. Brown Brothers Harriman’s (BBH) Elias Haddad highlights an extended broad rally in South Korean Won (KRW) as Korean equities underperform, reducing rebalancing outflows. Haddad sees an encouraging outlook, with KRW about 11% undervalued on Real Effective Exchange Rates (REER) metrics and the Bank of Korea (BoK) poised to start hiking at its July 16 meeting. A new 24-hour onshore KRW market and a roadmap for won internationalization should bolster long-term demand. Rebalancing, hikes and internationalization “KRW broad rally extended, mirroring the underperformance in the KOSPI so far this month. The logic is that as Korean equities underperform and their weight in global portfolio declines, the need for foreign investors to trim positions and repatriate funds diminishes, reducing KRW outflows.” “By the same token, should the KOSPI regain leadership the rebalancing outflows are l