BTQ Technologies has been selected as the core security infrastructure provider for South Korea’s first bank-led Korean Won stablecoin proof-of-concept, deploying its Quantum Secure Stablecoin Network on the Kaia mainnet — a development that positions post-quantum cryptography at the foundation of one of Asia’s most closely watched crypto initiatives.
The initiative is led by iM Bank, one of South Korea’s major commercial lenders, and marks the first time a Korean bank has formally moved a KRW-denominated stablecoin to a public Layer-1 blockchain in a structured proof-of-concept environment.
QSSN — the Quantum Secure Stablecoin Network — is designed to enable banks, payment providers, and digital asset platforms to issue and manage stablecoins with built-in protection against quantum-era cybersecurity threats. The system provides quantum-safe smart account wallets for EVM-compatible blockchain networks, using ML-DSA post-quantum cryptography within the ERC-4337 account abstraction standard, per BTQ’s regulatory filings with the SEC.
The choice of Kaia as the underlying network is significant in itself. Kaia is a public Layer-1 blockchain built from the merger of Kakao’s Klaytn and LINE’s Finschia networks, engineered specifically for institutional stablecoin settlement with one-second block times and instant finality.
The network has been central to South Korea’s broader KRW stablecoin buildout — with multiple Tier-1 banks conducting parallel proof-of-concept work across competing chains including Avalanche, GIWA Chain, and Solana.
A Crypto Competition With Serious StakesThe iM Bank initiative arrives as South Korea accelerates toward formal stablecoin legislation. The country’s Digital Asset Basic Act, which would authorize domestic issuance of KRW-backed stablecoins for the first time after nearly nine years of prohibition, is anticipated to move through the legislative process in 2026, per earlier reporting by KoreaTechDesk.
With roughly $40 billion flowing out of South Korean exchanges into foreign dollar-backed stablecoins in the first quarter of 2025 alone, according to Seoulz, the urgency behind a domestic alternative is not theoretical.
BTQ’s selection for the iM Bank PoC follows earlier QSSN deployments in Korea with Danal, the country’s leading mobile carrier billing provider, and Finger Inc. Group, a banking-solutions developer serving major Korean institutions.
This development marks a pivotal moment for the nascent sector’s approach to financial infrastructure security. As sovereign-aligned stablecoin frameworks take shape across Asia, the decision to embed post-quantum cryptography at the base layer — rather than retrofit it later — could establish a new standard for how regulated digital currencies are built in the years ahead.
Cover image from Grok, BTCUSD chart from Tradingview
