BTQ Technologies Corp. (Nasdaq: BTQ), a Vancouver-listed quantum technology company, has been selected as the core post-quantum cryptography (PQC) security provider for South Korea’s first bank-led Korean won (KRW) stablecoin proof-of-concept. According to a May 6 report from BeInCrypto via Yahoo Finance, the company will deploy its Quantum Secure Stablecoin Settlement Network (QSSN) across iM Bank’s pilot infrastructure in partnership with local technology vendor Finger Inc.
The proof-of-concept is built on the Kaia mainnet, a Layer 1 blockchain formed from the merger of Kakao’s Klaytn and LINE’s Finschia networks. According to BTQ, the pilot will test real-time reconciliation between bank reserves and on-chain supply, a standardized smart contract architecture, connectivity for overseas distribution, and a PQC-based dual-signature security structure that pairs NIST-aligned PQC with existing ECDSA signatures to allow phased quantum migration.
QSSN is designed to protect critical issuer functions, including stablecoin issuance, burning, transfer authority, upgrade control, and administrative permissions. According to the company’s press release, QSSN was previously cited in the U.S. Post-Quantum Financial Infrastructure Framework as a model architecture for post-quantum digital money infrastructure. BTQ has also positioned QSSN as aligned with emerging QuINSA post-quantum financial infrastructure requirements.
In addition to supplying the QSSN security layer, BTQ is providing strategic advisory support and coordinating implementation across the three-way partnership with iM Bank and Finger. iM Bank is a Korean commercial bank affiliated with DGB Financial Group.
The deployment arrives amid a broader competitive build-out of regulated KRW stablecoin infrastructure across South Korea. Eight major Korean banks, including KB Kookmin, Shinhan, Woori, and Nonghyup, are advancing plans for a joint KRW stablecoin venture. Separately, Hana Financial Group, BNK Financial, iM Bank, and SC First Bank have formed a distinct consortium track, according to The Crypto Times. South Korea’s Digital Asset Basic Act, which would authorize domestic issuance of KRW-backed stablecoins for the first time, is expected to advance through the legislative process in 2026.