iM Bank KRW Stablecoin (KRW-iM) pre-launch stablecoin tracker
KRW-iM is South Korea's first bank-led KRW stablecoin proof-of-concept, run by iM Bank and Finger on Kaia with BTQ's post-quantum security stack.
Phase
Current launch phase
Target launch
Earlier target retired
Target drift
2026 target retired Nov 1, 2026
Since announcement
Announced May 2026
Live surfaces
Activates at launchPrice & peg · Supply & flows · Liquidity · Safety Score · DEWSBank-Led Won Pilot on Kaia
KRW-iM is iM Bank's pre-launch won stablecoin, which Pharos records as South Korea's first bank-led KRW proof of concept. The original May 2026 pilot with Finger on Kaia leaned on BTQ Technologies' post-quantum cryptography, a security feature rather than a reserve or term. The token iMKRW was issued and transacted on Kaia in OpenAsset's full-lifecycle test in May, covering issuance, QR payment, merchant settlement and burn. The separate Coocon payment-ecosystem test in July used BEATOZ blockchain and CPG technology; its release did not identify Kaia or name the token iMKRW. In June iM Bank also joined the Korea-EU Pangea project testing KRW-EUR stablecoin exchange, though iMKRW was not named there. Pharos marks the phase as testnet, but these are private pilots rather than a public network. Production mint, redemption and reserve reporting terms are unpublished, and the production ticker is unconfirmed. Commercial launch is gated on the Digital Asset Basic Act, whose September public hearing fell through after the government bill was delayed.
· AI summary · drafted by openai-codex/gpt-6.1-sol · facts as of 2026-11-08
AI policyKRW-iM Launch path
Testnet phase, earlier target retired, none set; 5 milestones logged since May 2026.
Target history (1)
- 2026retired Nov 1, 2026
Launch status narrative
South Korea's first bank-led KRW stablecoin proof-of-concept; built by iM Bank and Finger on the Kaia blockchain; features quantum-resistant (PQC) security via BTQ Technologies and Keypair. BTQ's Q1 2026 filing reports the precursor Finger pilot completed 1,477 production transactions at 100% success with 200+ post-quantum wallets, and names iM Bank as its lead commercial conversion candidate. The May 2026 OpenAsset full-lifecycle PoC issued and transacted iMKRW on Kaia. The separate July 2026 Coocon payment-ecosystem PoC used BEATOZ blockchain and CPG technology; its release did not identify Kaia or name the token iMKRW. Pharos marks the phase testnet; these are private pilots, not a public testnet. In June 2026 iM Bank joined the Korea-EU Pangea project testing KRW-EUR stablecoin exchange with Shinhan, K Bank, Qivalis, Swift, and Chainlink. Commercialization remains gated on Korean stablecoin legislation, which had not been introduced as a unified bill as of September 2026, and the production symbol/ticker is not yet confirmed. iM Bank has announced no launch date, and issuance awaits the Digital Asset Basic Act.
Launch status: quick answers
- When will KRW-iM launch?
- Pharos records KRW-iM in the testnet phase. It was announced in May 2026. An earlier target was retired and no target date is set. Targets come from issuer statements; Pharos does not estimate launch dates.
- Who issues KRW-iM?
- KRW-iM is South Korea's first bank-led KRW stablecoin proof-of-concept, run by iM Bank and Finger on Kaia with BTQ's post-quantum security stack.
- Is KRW-iM live yet?
- Pharos lists KRW-iM as pre-launch (the testnet phase): no price and market-cap source is admitted for it yet, so Pharos shows no price, supply, liquidity or Safety Score. Live tracking starts once both can be verified.
KRW-iM Activity
- Regulatory
Digital Asset Basic Act September public hearing effectively cancelled; FSC now targets a November subcommittee
The public hearing expected around September 30 fell through after the government bill was delayed amid a prolonged presidential policy-director vacancy, leaving year-end passage uncertain; the FSC still aims for a National Assembly bill-review subcommittee in November. The licensing framework gating iMKRW commercialisation remains unenacted.
Source - Milestone
Coocon, iM Bank, and Beatoz complete stablecoin issuance and payment-ecosystem PoC
Payment APIs bridged bank infrastructure and the Beatoz CPG blockchain, covering policy-fund execution via smart contracts and regional payment infrastructure. No commercialization timeline given.
Source - Partnership
iM Bank joins the Korea-EU 'Pangea' stablecoin remittance project
Launched in Zurich with Shinhan Bank, K Bank, Qivalis, Swift, Chainlink, and FairSquareLab, the project is to test direct exchange between KRW and EUR stablecoins for remittance, FX, and settlement. iMKRW is not named in the announcement.
Source - Milestone
iM Bank and OpenAsset complete technical PoC issuing 'iMKRW' on Kaia
Controlled-environment proof-of-concept with OpenAsset's OpenMint solution demonstrated the full token lifecycle (issuance, top-up, QR payment, merchant settlement, and burn) across 80+ scenarios. A separate partner track from the Finger/BTQ post-quantum security pilot.
Source - Announcement
iM Bank and Finger announce first bank-led KRW stablecoin PoC on Kaia
Pilot features quantum-resistant security via BTQ Technologies' post-quantum cryptography stack.
Source
Earlier activity (1)
- Announcement
iM Bank signs won stablecoin agreement with Finger and Validator
iM Bank signed a memorandum of understanding with fintech firm Finger and blockchain firm Validator to build bank-led won stablecoin issuance and distribution infrastructure, starting with a proof of concept that reconciles bank deposits against on-chain issuance in real time. iM Bank is to hold and certify the reserves, Finger to link existing financial systems, and Validator to handle global infrastructure and distribution.
Source