DeepMind to Create Global Stablecoin Exchange Hub... Platform Development

[Financial News] DeepMind Platform (DeepMind) is embarking on the construction of a global exchange platform that supports real-time exchange and transfer between stablecoins.
DeepMind announced on the 28th that it will open the site and begin full-scale platform development by registering the domain of the stablecoin trading platform 'Stableswap (stableswap.io)' through its overseas subsidiary.
Stableswap aims to support real-time swaps and free movement between major stablecoins such as 'KRDT' issued by DeepMind, 'USDT, USDC, PYUSD, FIUSD', and others.
Currently, DeepMind is issuing KRDT on multiple chains such as Ethereum, Binance Smart Chain (BSC), Base, Tron (TRON), and Solana (Solana). It has also successfully established exchange pairs with USDT and USDC within Uniswap and PancakeSwap, completing technical verification.
Additionally, DeepMind has introduced a Multi-sig and hardware wallet-based protection system to enhance the security of smart contracts, and has completed the trademark application for 'KRDT' with the Korean Intellectual Property Office.
This move is in line with the trend of stablecoin issuance competition spreading among global financial and distribution companies. Distribution companies are pursuing the issuance of their own stablecoins to reduce payment fees, while the financial sector is expanding ecosystem participation in a manner that complies with regulations.
Recently, the 'Genius Act' signed by U.S. President Donald Trump allows only institutions licensed by the Office of the Comptroller of the Currency (OCC) to issue stablecoins in the U.S., prompting global virtual asset and big tech companies to seek bank licenses. It is known that Bank of America (BoA), Amazon, Uber, and Walmart are preparing for issuance.
In Europe, major financial institutions are also actively engaging in stablecoin issuance. France's second-largest bank Société Générale and Spain's largest bank Santander have also formalized the issuance or consideration of stablecoins.
DeepMind plans to preempt the real-time exchange market through Stableswap in line with this global trend. The first service will be built around the integration of existing major stablecoins, and integration services will be expanded sequentially according to the schedule of large new stablecoin launches. This is because companies in each country are issuing stablecoins based on the dollar, euro, yen, etc., and it is expected that the real-use areas such as remittances and payments will rapidly expand in the future. A DeepMind representative stated, "We plan to lead the reorganization of the digital financial infrastructure by applying the exchange system based on the credibility of the issuer as a selection criterion."
In particular, a stable exchange system is expected to contribute to solving the 'singularity of currency' problem, which has been pointed out as a chronic issue of stablecoins. There are concerns that the value of stablecoins can vary depending on the credibility of the issuer, which can lead to increased price volatility.
A DeepMind official said, "Demand for stablecoins is surging in countries where the value of the national currency is unstable due to high inflation," adding, "By establishing an exchange hub targeting only stablecoins with verified credibility, we can reduce the market's anxiety." They continued, "We will expand the Korean won stablecoin ecosystem centered on KRDT to increase the utilization of the won in the digital financial market."

dschoi@fnnews.com Choi Doo-sun Reporter