Korean fintech company Travel Wallet collaborates with Avalanche to develop a stablecoin based on the Korean won

According to Edaily, South Korean fintech startup Travel Wallet has signed a memorandum of understanding (MOU) with Layer1 blockchain platform Avalanche to jointly explore the development of a programmable stablecoin based on the Korean won. As part of the collaboration, Travel Wallet plans to issue a stablecoin anchored 1:1 with the Korean won and design a programmable stablecoin using smart contracts.