LG CNS, a subsidiary of South Korea's LG Group, will launch a new blockchain service for the stablecoin ecosystem in September

According to a report by Digital Asset, LG CNS, an IT service company under the LG Group in South Korea, plans to launch a new blockchain service in September aimed specifically at the stablecoin ecosystem, covering core functions such as digital wallets, transaction processing, fee payment, and on-chain data management.

Lee Jung-hwa, head of the blockchain department at LG CNS, said that wallets are the most important infrastructure in the stablecoin ecosystem, and whoever has control of the wallet and fiat currency entry and exit channels in the future can occupy a key position. The company has previously accumulated CBDC and deposit token-related technologies through participation in the Bank of Korea's “Project Hangang”, and has verified various on-chain settlement models in experiments.