SOOHO.IO and Chainlink Launch KRW Stablecoin Pilot for Korean Tourists
SOOHO.IO has partnered with [Chainlink](https://holder.io/coins/) to launch Project Namsan, focusing on the Korean won (KRW) stablecoin ecosystem.
- The project runs a live pilot for low-cost foreign exchange for tourists in South Korea.
- Participants reported payment costs over 30% lower than traditional methods.
- Utilizes Chainlink's Cross-Chain Interoperability Protocol (CCIP) and Proof of Reserve for blockchain connectivity and reserve verification.
Project Details
- Active since July 2025 with Grand Korea Leisure (GKL).
- Tourists deposit USD-based stablecoins to receive KRW digital vouchers.
- Aims to streamline payment processes in tourism.
- CCIP enables smooth asset transfers; Proof of Reserve ensures voucher issuance post-stablecoin settlement.
Market Reaction
- Positive feedback highlights it as a "serious blockchain infrastructure play" for South Korea.
- Some skepticism remains about delivering tangible results beyond announcements.
The initiative builds on SOOHO.IO's work with the Bank of Korea on Purpose Bound Money (PBM), adding programmable controls to digital currencies. It represents a test for blockchain's role in finance and tourism in South Korea.