Gyeonggi Province in South Korea will launch a stablecoin proof-of-concept project in August.

According to Etoday, Gyeonggi Province, South Korea, has announced it will launch a stablecoin-based PoC project in August to explore the application of blockchain stablecoins in local currency, public subsidies, and payment systems. The project will focus on verifying programmable payments, zero-knowledge proof, and proof of reserve technologies, and plans to enter the second phase of testing between October and December.