Hashed Open Research Emphasizes the Need for Won Stablecoin Settlement Network and Identity Verification

As the "agent economy" where AI purchases goods and services becomes a reality, competition among stablecoins is expanding from issuance to settlement and distribution infrastructure. Hashed Open Research (HOR) analyzed that the won stablecoin must secure its own settlement network and digital identity verification system. The report pointed out that global payment companies are expanding their business areas into settlement and distribution, and that discussions on domestic won stablecoin policies are currently focused on the issuing entities, highlighting the need to broaden the discussion to the overall ecosystem. It explained that the revenue structure of the stablecoin industry goes to companies that secure settlement and distribution rather than the issuers, emphasizing that policies should encompass the industrial ecosystem rather than concentrate on issuance authority. It was noted that 98.6% of AI agent payments are processed using dollar-based stablecoins, indicating that discussions on AI payment infrastructure and currency are also necessary domestically. Finally, it stressed that identity verification is a key challenge for activating the agent economy, arguing that South Korea can seize the global standard by combining its electronic signature and financial real-name verification systems with blockchain.

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