fanc

ChainCatcher news, according to the Korea Herald, South Korean digital token developer fanC has partnered with financial software company Initech to launch a trial run of the Korean won stablecoin KRWIN, which is pegged to the won at a 1:1 ratio. This marks the first issuance of a digital asset in won by a private entity with potential applications in the real economy.fanC stated that this is a demonstration version aimed at testing the technical feasibility of KRWIN, including transferability and practical applications, with the issuance limited to selected internal members and partner platforms for evaluation. Last month, fanC submitted a trademark application for KRWIN and its related technologies to the Korean Intellectual Property Office.Once officially launched, KRWIN is expected to be applied in areas such as payments, global remittances, and travel.

ChainCatcher news, the South Korean prosecution recently conducted a seizure search on CELEBe Korea, the operator of the short video creation platform CELEBe and the issuer of the FANC token, due to allegations that the company's token FANC was listed on Bithumb and that Bithumb Holdings CEO Lee Sang-jun was involved in bribery of 5 billion won (approximately 37.7 million USD).Among South Korean cryptocurrency exchanges, only Bithumb listed FANC in March of this year, and its price trend indicates that the token is suspected of market manipulation. (source link)