The first stablecoin pegged to the Korean Won, KRWIN, has begun its demonstration promotion. This summary is generated by AI. KRWIN, a new stablecoin pegged to the Korean Won developed by fanC and Initech, aims to explore its transferability and real-world applications through a demonstration release. Expected to be fully operational by the end of 2025, it may enhance the adoption of stablecoins across various sectors. KRWIN has become the first Korean Won-pegged stablecoin jointly launched by fanC and Initech, pegged to South Korea's legal currency at a 1:1 ratio. This pilot program aims to test the transferability, feasibility, and real applications of KRWIN. Notably, a formal date for the full launch of KRWIN has not been announced; however, regional media reports indicate that it is expected to be fully operational by the end of the year. According to a report by the Korea Herald on August 5, 2025, this is the first stablecoin issued by a private entity pegged to the Korean Won, with potential for use in the real economy. The demonstration launch of KRWIN aims to monitor actual applications and technical feasibility during its demonstration phase. The developers and issuers of this anchored stablecoin aim to test transferability, practical applications, and technical feasibility, but during the pilot phase, circulation will be limited to internally selected members and relevant platforms for evaluation. With the launch of this demonstration, fanC representative Lee Dong-ho stated, "This dip issuance marks an important first step in establishing a practical foundation for stablecoin adoption, combining financial security with Blockchain technology." "KRWIN will establish itself as a leading private model driving future demand for Korean Won-pegged digital assets," Lee added. With the full launch of KRWIN expected in the near future, it is anticipated to be used in various fields such as payments, global remittances, and travel. Since mid-2024, stablecoins have garnered significant attention, and several well-known financial giants have marked their participation by entering the stablecoin space since the beginning of this year. Not only is there favoritism from companies and institutions, but regulatory agencies have also slightly changed their stance on stablecoins. Some countries have already established laws for these blockchain-based products, while others are in the review stage and may release corresponding rules and regulations. Will the total market capitalization of the stablecoin market exceed $350 billion by the end of 2025? According to CoinMarketCap data, as of the time of writing, the market capitalization of the stablecoin market is $278,542,274,412, with a trading volume of $136,813,697,796. However, in terms of market capitalization, USDT leads with a market cap of $163 billion, followed by USDC with a market cap of $64 billion, and EthenaUSDe with a market cap of $9.44 billion. Within the timeframe from the beginning of the year to now, the overall stablecoin market has experienced several rises, and further experts and market observers believe that by the end of this year, it is expected to reach new highs, with a higher likelihood of breaking through the $350 billion market cap. However, the entry of private enterprises into the stablecoin category is expected to bring more regulatory clarity to stablecoins, with more such blockchain-based stablecoins likely to emerge in the market.