South Korea’s FSC Chairman nominee has indicated that the country’s stablecoin could be issued on a “national” blockchain.

While no concrete details were provided, this signals the preferred direction of government leadership regarding existing stablecoins and blockchain infrastructure.

National Blockchain to Replace Ethereum

During Wednesday’s confirmation hearing, FSC Chair nominee Lee Eog-weon was questioned by ruling Democratic Party lawmaker Lee Kang-il about developing an independent blockchain mainnet for the country’s stablecoin.

The nominee responded, “Current stablecoins are issued on networks like Ethereum (ETH) and Tron (TRX). You mean replacing them and developing a blockchain mainnet suited for Korea. I will discuss this possibility with relevant ministries.”

If implemented, this concept would mark a global first—a state-run or state-supported blockchain hosting stablecoins. Regulators worldwide consistently seek to oversee stablecoins and often demand information access rights. Questions about blockchain nationality, however, rarely emerge in these regulatory efforts. Even Korean lawmakers recently introduced several stablecoin-related bills in the National Assembly, but none