Travel Wallet and Avalanche Collaborate on Korean Won-Backed Stablecoin

According to PANews, South Korean fintech startup Travel Wallet has entered into a memorandum of understanding (MOU) with Layer 1 blockchain platform Avalanche. The collaboration aims to explore the development of a programmable stablecoin based on the Korean won. As part of this partnership, Travel Wallet plans to issue a stablecoin pegged 1:1 to the Korean won and utilize smart contracts to design programmable stablecoins.