Hashed unveils Layer 1 concept for upcoming South Korean stablecoin economy

Hashed Open Finance, a subsidiary of Hashed, has revealed a litepaper for Maroo, a new Layer 1 blockchain specifically built for the Korean won (KRW) economy. Maroo aims to merge the openness of public blockchains with necessary regulatory features like auditability and privacy protections, allowing transaction fees to be paid in KRW stablecoins to ease user adoption. The design addresses limitations in current public chains, such as Ethereum, regarding AML/KYC implementation and data privacy risks, by employing a "dual track" system (open and regulated paths) and a Programmable Compliance Layer (PCL) for automated regulatory checks. Maroo also incorporates future AI integration features. Simon Kim, CEO of Hashed, stated the project seeks to be a foundation for financial institutions to explore next-generation services while respecting Korea's regulatory environment. This initiative aligns with South Korea's legislative efforts, expected in the Digital Asset Basic Act, to foster a local KRW stablecoin market to counter the dominance of dollar stablecoins, even as debates continue over whether issuance should be restricted to licensed banks.

(Source：The Block)