K-STAR and BNK Busan Bank Complete Blockchain Local Currency PoC with 100% Transaction Success Rate

According to K-STAR, a consortium of Korean won stablecoin technology firms including AhnLab Blockchain Company, the alliance successfully completed a proof of concept (PoC) for blockchain-based local currency digital transformation with BNK Busan Bank on July 6. The project achieved 100% transaction success rate and sub-second processing performance across 24-hour continuous testing.

The PoC implemented programmable money capabilities, embedding policy conditions such as merchant restrictions, auto-expiration, and differential settlement into the digital currency on Kaia mainnet. Participating organizations—including OpenAsset, Kaia, and Lambda256—validated interoperability across issuance, payment, settlement, and security functions, demonstrating viability for future expansion into policy funds, digital vouchers, central bank digital currencies (CBDC), and won stablecoin services.