KEY TAKEAWAYS
- ELYSIA partners with Bitkub to enhance KRW stablecoin applications in Southeast Asia.
- The collaboration aims to establish a cross-border RWA distribution framework between Thailand and Korea.
- Thailand’s regulatory changes are expected to boost the Web3 industry, facilitating digital asset-based payments.
- The consortium plans to tokenize Thai real estate, connecting it with Korean investors.
ELYSIA, a Real World Asset (RWA) tokenization project, has announced a strategic consortium with Bitkub, Thailand’s largest cryptocurrency exchange. This collaboration aims to enhance the real-world application of the KRW stablecoin in Southeast Asia and establish a cross-border RWA distribution framework between Thailand and Korea. The partnership was announced here.
Following the recent release of its technical infrastructure for KRW-based stablecoin issuance, ELYSIA plans to work with Bitkub on a Proof of Concept (POC) project in Thailand. This initiative is designed to validate the feasibility and scalability of KRW stablecoins in the global market. The POC project will explore the potential for KRW stablecoins to serve as a cross-border liquidity tool, particularly in light of Thailand’s upcoming tax exemptions on crypto capital gains starting in 2025.
Thailand’s regulatory shift is seen as a positive development for the Web3 industry, with increasing demand for digital asset-based payments and investments. Recognizing this opportunity, ELYSIA and Bitkub aim to bridge the gap between technology and real-world application. The consortium will focus on identifying real-world use cases for KRW stablecoins in Thailand, designing a cross-border RWA distribution framework, and exploring concrete business models.
Initial discussions within the consortium are centered on tokenizing Thai real estate and connecting it with Korean investors. There are plans to expand into various asset classes over time. Through this partnership, ELYSIA seeks to close the gap between technical infrastructure and real adoption, while simultaneously expanding the RWA ecosystem in Southeast Asia and accelerating the integration of KRW stablecoins into real-world use.
Why This Matters: Impact, Industry Trends & Expert Insights
ELYSIA has partnered with Bitkub to enhance the use of KRW stablecoins in Southeast Asia, focusing on real-world applications and cross-border RWA distribution. This move is aligned with Thailand’s recent crypto-friendly regulatory changes.
According to a MEXC report, KRW stablecoins are gaining traction in Southeast Asia, driven by regulatory support and fintech innovations. This aligns with ELYSIA and Bitkub’s initiative to leverage KRW stablecoins as a cross-border liquidity tool, particularly in light of Thailand’s tax exemptions on crypto capital gains.
Insights from CoinCentral highlight the strategic alignment of South Korea and Thailand’s crypto regulations, fostering investment and innovation. This supports the consortium’s goal to bridge technology with real-world applications, enhancing the RWA ecosystem in Southeast Asia.
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