Hashed said the Maroo blockchain combines the openness of public blockchains with compliance features essential for financial applications.
The patent application covers a hybrid payment system that allows users to spend stablecoins through their existing credit cards.
Asia laid the groundwork for non-USD stablecoins in 2025, as regulators and crypto firms pushed local-currency stablecoin initiatives.
South Korean regulators remain deadlocked over who can issue stablecoins, delaying progress on a new comprehensive digital asset framework.
Legislative efforts gained momentum as South Korean President Lee made developing a Korean won-stablecoin market one of his key initiatives.
The country's President Lee Jae Myung has pledged to establish a local currency stablecoin market to strengthen its monetary sovereignty
KakaoBank says it is reviewing new business ventures in digital asset issuance or custody, while working with Kakao's stablecoin task force.
BOK Governor Lee said letting non-banks issue stablecoins could disrupt foreign currency exchange policies and the local banking sector.
The BOK reportedly said it will monitor the progress of local legislation on stablecoins, which have been gaining momentum recently.
The bank said it is a preemptive effort in preparation for the upcoming stablecoin consortium with seven other major banks in the country.
South Korea has taken on local currency-based stablecoins as a major national task, while some experts raised red flags about the initiative.
The BOK's latest comment conflicts with the president's agenda to push KRW stablecoins to prevent the outflow of domestic capital.