Gyeonggi Province in South Korea is set to initiate a proof-of-concept (PoC) project for stablecoins in August. The project aims to explore the use of blockchain-based stablecoins in local currencies, public subsidies, and payment systems. The PoC will focus on three core technologies: programmable payments, zero-knowledge proofs, and real-time proof of reserves to ensure issued stablecoins match reserve assets. If the initial phase progresses smoothly, the project will move into a second phase from October to December. This phase will evaluate mechanisms to prevent fund misuse, enhance privacy protection, and assess the suitability of businesses for the stablecoin system, incorporating feedback from residents and enterprises.