LG CNS to Launch Blockchain Service for Stablecoin Ecosystem in September

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LG CNS, a subsidiary of South Korea’s LG Group, is set to launch a blockchain service in September designed to support the growth of the stablecoin ecosystem. The service will include digital wallets, transaction processing, fee settlements, and on-chain data management. Lee Jung-hwa, LG CNS’s head of blockchain, emphasized that wallets serve as essential infrastructure within the stablecoin ecosystem. LG CNS brings prior experience from its participation in the Bank of Korea’s “Project Hangang,” where it explored CBDC and deposit token technologies, and has tested multiple on-chain settlement models. This initiative follows growing demand for scalable payment solutions within the Ethereum ecosystem.

ChainCatcher report, according to Digital Asset, LG CNS, an IT services company under South Korea’s LG Group, plans to launch a new blockchain service in September specifically designed for the stablecoin ecosystem, encompassing core functions such as digital wallets, transaction processing, fee payment, and on-chain data management. Lee Jung-hwa, head of LG CNS’s blockchain division, stated that wallets are the most critical infrastructure in the stablecoin ecosystem, and whoever controls wallets and fiat on-ramps/off-ramps will hold a pivotal position. The company has previously accumulated expertise in CBDC and deposit token technologies through its participation in the Bank of Korea’s “Project Hangang,” and has validated multiple on-chain settlement models in experiments.

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