AhnLab Blockchain Company said on the 6th that K-STAR, an alliance for digital currency infrastructure technology based on a won stablecoin, successfully completed a Blockchain-based payment and settlement infrastructure proof of concept (PoC) promoted with BNK Busan Bank.
The project was promoted to introduce Blockchain-based digital local currency, implement the entire process from issuance to circulation, payment, and settlement, and verify the feasibility of operation in a real financial environment. It also verified a "policy-type local currency" model that embeds policy conditions such as usage locations and expiration dates into the currency.
BNK Busan Bank, AhnLab Blockchain Company, OpenAsset, Kaia, and Lambda256 participated in the project. BNK Busan Bank designed a policy-type local currency model based on a won stablecoin and verified the charging, payment, and settlement functions.
AhnLab Blockchain Company was responsible for project design and the implementation of the user wallet, transaction and settlement structures. OpenAsset handled stablecoin issuance and asset consistency management, Kaia provided the mainnet environment, and Lambda256 supported node infrastructure operations and transaction flow monitoring.
In this PoC, beyond simple token transfers, the team confirmed the feasibility of implementing "programmable money" that embeds policy conditions into the currency, such as usage restrictions, automatic expiration, and differentiated settlement by usage location. The company said that through this it verified the potential to expand into policy funds, digital vouchers, Central Bank Digital Currency (CBDC), and services based on a won stablecoin.
In the performance verification reflecting BNK Busan Bank's payment operation data, the team conducted four scenarios—normal, congested, peak, and complex irregular—and a 24-hour continuous test, recording a 100% transaction success rate and sub-one-second processing performance in all sections. It also verified a low transaction cost and a user experience (UX) based on fee sponsorship, as well as real-time monitoring capabilities.
Lim Ju-young, head of AhnLab Blockchain Company, said, "This project is meaningful in that it verified that a digital currency-based local currency service can operate stably even in a real environment," adding, "Based on their expertise, each participating company will work to establish a foundation to expand not only the digital transformation of local currency but also into stablecoins, digital assets, and cross-border payment and settlement as part of the next-generation financial ecosystem."