ZetaChain’s Strategic Expansion in South Korea: Unifying KRW Stablecoin Ecosystem

ZetaChain, a universal blockchain platform connecting disparate networks, is making a significant move into the South Korean market with its groundbreaking initiative to establish a unified KRW stablecoin ecosystem. Chief Marketing Officer (CMO) Jonathan Covey revealed in an exclusive interview with Block Media on September 24 that the platform is in advanced discussions with leading South Korean institutions—including Kakao, Naver, and Shinhan Bank—regarding the creation of KRW-based stablecoins. These efforts are part of ZetaChain’s “Toba” project, which aims to unite various stablecoins under a consolidated liquidity pool known as "uKRW."

What Sets ZetaChain Apart: Building the First Universal Blockchain

According to Covey, ZetaChain is the world’s first “universal blockchain” capable of seamlessly connecting networks such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and others. Unlike traditional bridge solutions or Layer 2 ecosystems, which often create isolated silos, ZetaChain’s meta-layer approach enables interoperable ecosystems.

Covey elaborated, “While new blockchains like Solana and Sui build standalone ecosystems, ZetaChain tackles the challenge of interoperability directly. Instead of relying on wrapped tokens or cross-chain bridges to lock assets, ZetaChain’s technology offers developers the ability to deploy one app across various blockchains. This delivers users a seamless, internet-like experience where they don’t need to worry about operating systems or blockchain networks—the application simply works.”

Why South Korea is Crucial to ZetaChain’s Growth

South Korea represents a key market for blockchain innovation, and ZetaChain is strategically aligning itself with this ecosystem. The platform has recently integrated with South Korea’s Kaia testnet, a blockchain originally developed for gaming that is now gaining traction as a foundation for fiat currency-based stablecoins in the region.

“Kaia holds significant importance within South Korea’s blockchain landscape,” Covey noted. “Its focus on the KRW stablecoin ecosystem makes it a vital part of our broader strategy for growth in this market.”

Moreover, ZetaChain announced its partnership with South Korean telecommunications powerhouse Stage 5 to launch the revolutionary “Web3 phone,” further emphasizing its commitment to advancing seamless blockchain adoption nationwide.

Addressing Fragmentation: Transforming DeFi with Unified Liquidity

ZetaChain’s universal blockchain plays a critical role in addressing liquidity fragmentation in the decentralized finance (DeFi) sector. With the proliferation of stablecoins tied to fiat currencies, liquidity has often been trapped within individual blockchains. Covey emphasized that ZetaChain’s model solves this issue by uniting liquidity on a universal platform, opening new opportunities for streamlined payments and high-yield investments in DeFi.

“Stablecoins are the currency of the internet,” he explained. “They hold immense potential in facilitating payments and providing higher interest rates than traditional financial institutions. However, the rise of fragmented ecosystems has trapped liquidity across various networks. ZetaChain enables the consolidation of this liquidity, simplifying cross-chain stablecoin swaps and allowing developers to create innovative applications with greater ease.”

The Toba Project: Redefining KRW Stablecoin Utility

Central to ZetaChain’s strategy in South Korea is the “Toba” project. This initiative seeks to integrate KRW-based stablecoins issued by major South Korean institutions—such as Kakao, Naver, and Shinhan Bank—on blockchains including Kaia, Ethereum, and Avalanche. The primary goal is to create a universal liquidity layer, simplifying cross-chain transactions.

“No matter the network your KRW stablecoin resides on, whether it’s Kaia or Avalanche, Toba allows it to be deposited into a single uKRW liquidity pool with just one click,” Covey shared. “This seamless scenario empowers users to conduct cross-chain stablecoin swaps for optimized liquidity, whether moving assets from Avalanche to Kaia or vice versa.”

The Toba project is positioned as a transformative tool for South Korea’s multi-chain financial ecosystem, aiming to unleash the potential of these stablecoins in DeFi, cross-border payments, and interactive applications.

Unison Mainnet Upgrade: Enhancing Universal Blockchain Capabilities

The recent introduction of ZetaChain’s “Unison” mainnet upgrade marks a significant leap forward for developers and blockchain applications. Offering enhanced synchronization, faster speeds, and full compatibility with Ethereum Virtual Machine (EVM) tools, the Unison upgrade equips developers with streamlined solutions for creating universal apps.

"Unison operates like a synchronized orchestra,” Covey explained. “It connects and harmonizes disparate networks, allowing developers to build applications that perform seamlessly across all environments without needing to rewrite code for different blockchain platforms, such as Solana’s Rust or Sui’s Move. This innovation accelerates the creation of native cross-chain apps, such as Uniswap or Curve, with minimal code adjustment.”

Given EVM’s dominance among blockchain developers, ZetaChain’s upgrade ensures it remains compatible with widely-used tools like Solidity, making it an attractive option for teams already investing in Ethereum-based projects.

Beyond KRW: A Vision for Universal Liquidity

The Toba project is just the beginning. ZetaChain’s overarching vision extends beyond KRW stablecoins to other currencies such as the yen, euro, and peso. Standardized universal stablecoin assets are critical in fostering broader cross-chain functionality for developers and users alike. Covey revealed ambitious plans to launch a testnet version of the Toba platform in the coming weeks, followed shortly by the mainnet release.

“We’re optimistic about the early adoption of the cross-chain stablecoin swap capability,” Covey shared. “Whether these assets are KRW-based or denominated in USD, universal stablecoins will serve as the foundation for universal app development on ZetaChain, bringing together disparate blockchain ecosystems under one roof.”

Strengthening Presence in South Korea with a Web3 Phone

As part of its South Korean expansion strategy, ZetaChain is deepening its roots in the region by growing its local team and showcasing their universal blockchain solutions. Covey highlighted ZetaChain’s recent “Universal Ecosystem” conference held in the Gangnam district of Seoul, where developers and users were introduced to the possibilities enabled by its technology.

The platform is also working with the South Korean telecommunications giant Stage 5 to launch a cutting-edge Web3 phone. This device will grant users direct access to ZetaChain’s universal blockchain and integrated KRW stablecoins through their mobile phones—a first in South Korea. Covey revealed, “The collaboration with Stage 5 mirrors similar offerings from competitors like Solana, but we’re confident that the comprehensive features we’re integrating will resonate more deeply among South Korean users.”

A Bold Vision for Global Blockchain Adoption

ZetaChain is making rapid headway toward its goal of global universal blockchain integration. The company’s entry into South Korea is part of a larger vision to simplify multi-chain systems and empower developers and users alike. With pioneering initiatives like the Toba project, the Unison mainnet upgrade, and the Web3 phone partnership, ZetaChain aims to drive innovation in blockchain technology while aligning its plans with the unique needs of the South Korean market.

By tackling liquidity fragmentation and enabling seamless interoperability, ZetaChain is setting the stage for a future defined by universal stablecoin adoption and a truly interconnected blockchain ecosystem. With standardized assets and innovative products, the platform is redefining the possibilities for DeFi, global payments, and decentralized app development.