SOOHO.IO and Chainlink Collaborate on Groundbreaking Stablecoin FX Initiative in Korea

Revolutionizing Stablecoin FX: SOOHO.IO and Chainlink's Project Namsan

Innovations in the financial technology sector never cease to amaze. A recent collaboration between SOOHO.IO—a prominent blockchain technology firm—and Chainlink has set the stage for a remarkable transformation in Korea’s foreign exchange (FX) landscape. Launched on September 22, 2025, Project Namsan aims to carve out a niche for the Korean won as a stablecoin, with Chainlink stepping in as a critical technical partner.

The Genesis of Project Namsan

Having already made significant strides in digital asset infrastructure, SOOHO.IO is now pioneering a consortium initiative to usher in an era of stablecoins in Korea. This new initiative is more than just a theoretical concept; it involves a practical application that directly benefits consumers. The consortium has piloted a program targeting foreign tourists where they can deposit USD-based stablecoins and receive KRW-denominated digital vouchers. Remarkably, these vouchers come at a reduced cost, more than 30% lower compared to traditional FX channels.

This innovative approach builds upon a strategic partnership initiated in 2024 between SOOHO.IO and Chainlink aimed at developing tokenized assets and Central Bank Digital Currency (CBDC) applications across Asia. Moreover, it builds on SOOHO.IO’s earlier work with the Bank of Korea on Purpose Bound Money (PBM), a system that allows for programmable controls on stablecoin usage.

Technical Anatomy of the Namsan Network

The backbone of the Namsan network lies in the Chainlink Cross-Chain Interoperability Protocol (CCIP), which connects various public and private blockchains. An integral part of this is the Chainlink Proof of Reserve, which ensures ongoing verification of stablecoin reserves, allowing for a robust and secure FX process. This combination not only validates stablecoin transactions but also establishes a Delivery-vs-Payment (DvP) model, ensuring that KRW vouchers are issued only after the settlement of stablecoins is confirmed.

Chainlink’s choice of CCIP is based on its layered security architecture, protected by the Chainlink Decentralized Oracle Network (DON) infrastructure known for securing over $100 billion in DeFi Total Value Locked (TVL). This innovative structure allows for the continuous verification needed for trustworthy transactions.

Pilot Program with Strategic Alliance

Since the pilot has been running since July 2025, SOOHO.IO has engaged in collaborations with several public enterprises in Korea. Notably, Grand Korea Leisure (GKL), managing the Seven Luck Casino frequented by international tourists, plays a significant role in this pilot. GKL attracts around 1.5 million visitors each year and has prominent branches in prime tourist locations like Gangnam.

The implications of this project extend well beyond simple currency exchanges. It embodies the future of financial transactions, showcasing how programmable money combined with verifiable data standards can revolutionize the stablecoin ecosystem in Korea, fostering future financial innovations.

The Visionary Leadership Behind the Project

Jisu Park, CEO of SOOHO.IO, expressed his enthusiasm for the project, declaring, “This strategic initiative with Chainlink is a truly meaningful achievement that demonstrates our technology's recognition on the global stage. We will faithfully fulfill our role as a trusted clearing and settlement partner to ensure financial institutions throughout the Asia-Pacific region can safely utilize and distribute stablecoins.”

Furthermore, Niki Ariyasinghe, Head of Business Development for Asia-Pacific at Chainlink Lab, emphasized that this collaboration bolsters security and transparency within the Korean stablecoin FX markets. It opens avenues for integrating stablecoins into the broader financial ecosystem at a larger scale, highlighting a transformative path forward.

About Chainlink and SOOHO.IO

Chainlink has established itself as the industry-standard oracle platform that facilitates the entry of capital markets into the blockchain world, powering the majority of decentralized finance activities. With its innovative infrastructure, it provides essential interoperability and compliance features necessary for advanced blockchain applications.

On the other hand, SOOHO.IO has safeguarded over 3.2 trillion KRW worth of digital assets through its blockchain security technology since its inception in 2019. Its flagship product, 'Touchstone,' serves as a consortium blockchain infrastructure, enabling safe issuance and distribution of digital assets.

As we look toward the future, the successful execution of Project Namsan promises to redefine foreign exchange dynamics and the use of stablecoins in Korea, setting an industry standard for financial innovation.