Samsung, Shinhan, Hana Partner on Won Stablecoin to Challenge Dollar Dominance

VADODARA, January 26, 2026 — Samsung, Shinhan Financial Group, and Hana Financial Group are partnering to establish a framework for issuing, distributing, and using a won-backed stablecoin, according to a report from Maeil Business Newspaper. This latest crypto news marks a significant institutional push into digital assets, aiming to create a competitive alternative to dollar-pegged stablecoins like USDT and USDC. Market structure suggests this move could recalibrate liquidity pools in Asia, similar to historical shifts seen during the 2021 DeFi summer.

Investigation: The Strategic Partnership Framework

According to sources in the financial and business sectors, Shinhan Financial Chairman Jin Ok-dong and Hana Financial Chairman Hahm Young-joo recently agreed with Samsung to launch the initiative. They have begun preparations. The financial groups determined that Samsung's participation is essential. They view its technological expertise and strong overseas business foundation as key to making a won-backed stablecoin competitive. This collaboration leverages Samsung's blockchain capabilities and global reach. It aims to establish a robust framework for issuance and distribution.

On-chain data indicates that stablecoin dominance currently favors USD-pegged assets. This partnership seeks to disrupt that equilibrium. The initiative focuses on creating a won-pegged digital asset. It targets both domestic and international markets. Historical cycles suggest that such institutional entries often precede liquidity grabs in regional markets. Consequently, this development could signal a broader trend toward currency diversification in crypto.

Market Context & Historical Precedent

Historically, stablecoin innovation has driven liquidity shifts. For example, the rise of USDC in 2018-2019 mirrored institutional adoption phases. In contrast, this won stablecoin project represents a direct challenge to dollar hegemony. It echoes efforts like China's digital yuan trials but with private sector leadership. Underlying this trend is a growing demand for non-dollar settlement options in cross-border transactions.

Market analysts note that similar partnerships in 2021, such as those involving JPMorgan's JPM Coin, catalyzed institutional interest. This move by Samsung, Shinhan, and Hana could accelerate regulatory clarity in South Korea. , it aligns with global central bank digital currency (CBDC) explorations. The Bank of Korea has been actively researching a digital won, as detailed in their official publications on CBDC progress. This private initiative may complement those efforts.

Related developments in the current extreme fear environment include exchanges adjusting listings. For instance, Binance recently delisted 21 spot pairs, highlighting liquidity consolidation. Additionally, Bybit delisted several tokens, reflecting market stress. These actions create a backdrop where institutional moves like this stablecoin project stand out.

Technical Architecture & Price Action

The technical architecture of a won stablecoin likely involves collateralization with South Korean won reserves. This requires robust auditing and regulatory compliance. Market structure suggests that successful implementation could create a new order block for Asian liquidity. Price action in major cryptocurrencies like Bitcoin often reacts to such fundamental shifts. Currently, Bitcoin trades near $87,965, showing slight negative momentum.

Technical analysis reveals key levels to watch. The Fibonacci 0.618 retracement level from the 2025 high sits near $85,000. This acts as critical support. A breach below could signal broader market weakness. Conversely, resistance lies at the 50-day moving average around $92,000. Volume profile data indicates thinning liquidity at these levels. This partnership may inject new capital flows, potentially stabilizing prices.

Ethereum's network upgrades, such as EIP-4844 for scalability, could influence stablecoin adoption. However, this project focuses on a centralized, fiat-backed model. It contrasts with algorithmic or crypto-collateralized stablecoins. The choice reflects regulatory preferences in South Korea. Historical precedent shows that such frameworks can gain rapid adoption if integrated with existing financial infrastructure.

By The Numbers

Why It Matters

This partnership matters because it challenges the dollar's dominance in crypto. Dollar-pegged stablecoins like USDT control over 70% of the stablecoin market. A successful won stablecoin could diversify global liquidity. It may reduce reliance on USD for cross-border settlements in Asia. Institutional liquidity cycles often follow such innovations. Retail market structure could shift as new on-ramps emerge.

Real-world evidence includes South Korea's high crypto adoption rates. The country ranks among top traders globally. This project leverages that base. It could enhance financial inclusion and efficiency. Impact extends to DeFi protocols, which may integrate won stablecoins for lending and trading. This creates new yield opportunities. Market analysts view this as a step toward multi-currency crypto ecosystems.

Expert Commentary

"The collaboration between Samsung, Shinhan, and Hana represents a calculated institutional foray into digital assets. Market structure suggests that non-dollar stablecoins are gaining traction as geopolitical and economic factors drive currency diversification. This initiative could establish a new liquidity corridor in Asia, similar to how USDC expanded USD dominance earlier. However, regulatory hurdles and adoption metrics will be key to watch." — CoinMarketBuzz Intelligence Desk

Market Outlook & Price Scenarios

Market outlook hinges on execution and adoption. Two data-backed technical scenarios emerge from current structure. First, successful launch could boost Asian crypto liquidity, supporting Bitcoin's price. Second, regulatory delays might temper immediate impact. The 12-month institutional outlook is cautiously optimistic. This event aligns with long-term trends toward digitization.

• Bullish Invalidation Level: $92,000 (Bitcoin's 50-day moving average). A break above this resistance would confirm renewed bullish momentum, potentially fueled by institutional inflows from projects like the won stablecoin.
• Bearish Invalidation Level: $85,000 (Fibonacci 0.618 support). A drop below this level would invalidate the current consolidation, indicating deeper correction and possibly delaying positive sentiment from the stablecoin news.

Over the 5-year horizon, this partnership could catalyze similar initiatives globally. It may encourage other regions to develop local currency stablecoins. This diversifies the crypto ecosystem. It reduces systemic risks tied to USD fluctuations. Institutional adoption may accelerate as regulatory frameworks solidify. Historical patterns indicate that early movers in such trends often capture significant market share.