Stablecoins can cut costs of cross-border payments: Woori Financial digital chief

Woori Financial Group is exploring global partnerships to expand stablecoin-based cross-border payments as the government moves toward regulating digital assets. “Companies with overseas subsidiaries constantly need to send money abroad,” Ok Il-jin, executive vice president of digital innovation at Woori Financial, said in an interview with Herald Business in Seoul. “Stablecoins can significantly shorten settlement times and reduce transaction costs.” The group is reviewing ways to integrate sta

By The Korea Herald