What is Naver Financial launching in Busan?

Naver Financial is launching a stablecoin wallet in Busan to digitize the local Dongbaek-jeon currency.

How will Naver's stablecoin wallet impact Busan's economy?

The wallet aims to modernize payments for 1.5 million monthly users and support Busan's blockchain-powered local economy.

When will the Naver stablecoin wallet fully launch in Busan?

The full rollout depends on South Korea finalizing its upcoming rules for local-currency stablecoins.

Home / Business and Economy / Naver Financial Launches Stablecoin Wallet in Busan

Naver Financial Launches Stablecoin Wallet in Busan

27 Nov, 2025

•

Summary

Naver Financial is launching a stablecoin wallet next month in Busan.
The wallet digitizes Busan's Dongbaek-jeon regional currency.
Rollout awaits South Korea's stablecoin regulations for local currencies.

Naver Financial Launches Stablecoin Wallet in Busan

Naver Financial is finalizing development of a stablecoin wallet slated for launch next month in Busan, aiming to digitize the city's Dongbaek-jeon regional currency. This initiative is a key part of Busan's strategy to foster a blockchain-powered local economy, modernizing payments for an estimated 1.5 million monthly users. The service will allow residents and visitors to convert fiat into a stablecoin version of Dongbaek-jeon.

The project is a collaboration between Naver Financial, venture capital firm Hashed, and the Busan Digital Asset Exchange (BDAN), which is providing the blockchain infrastructure. BNK Busan Bank, the current issuer of Dongbaek-jeon, is also exploring a transition to a stablecoin-backed system. This shift could enable real-time settlement across the city's payment network.