Wemade said on the 27th that oracle platform developer Chainlink Labs has joined the won stablecoin consortium "GAKS (Global Alliance for KRW Stablecoin)" led by the company.
Chainlink Labs is the core developer of "Chainlink," a leading oracle platform that links real-economy data to the Blockchain. GAKS is a consortium launched in November last year that aims to ensure global regulatory compliance and expand real-world use of the won stablecoin.
Wemade plans to strengthen the technical completeness and global competitiveness of the won stablecoin ecosystem through the addition of Chainlink Labs. Chainlink provides oracle infrastructure that connects traditional finance and on-chain finance, and global financial institutions including SWIFT, UBS, Euroclear, Mastercard, and Fidelity International are using the technology standard.
Within GAKS, Chainlink Labs will support the establishment of technical standards and strategies to advance infrastructure, and will work so corporations in the consortium can use the Chainlink platform to identify institutional use cases for digital asset. The company said it will help the won stablecoin secure data integrity and stability that meet global financial standards.
With this addition, GAKS now includes Chainlink Labs alongside existing participants—Blockchain data analysis corporations Chainalysis, security audit corporations CertiK, and global Fintech corporations SentBe—forming a consortium that spans security, regulation, data, and Fintech infrastructure.
Johan Eid, chief business officer (CBO) at Chainlink Labs, said, "Wemade and GAKS are building the core infrastructure of Korea's digital asset market," adding, "Through strategic partnerships, Chainlink plans to support the expansion of stablecoin and tokenized asset use in Korea and the Asia-Pacific region."
Kim Seok-hwan, vice president of Wemade, said, "Chainlink's participation is an important catalyst for GAKS to secure global-level technical credibility," and added, "We will continue to work with consortium members to promote regulatory compliance and real-world use of the won stablecoin."