South Korean Banks Flock to Blockchain, Avalanche Benefits

South Korean banks are rapidly adopting blockchain technology, with Avalanche (AVAX) being one of the key players in this trend. A proof-of-concept between Danal Fintech and JB Jeonbuk Bank has successfully tested a Korean won-denominated stablecoin on Avalanche infrastructure.

The PoC validated both merchant settlement convenience and end-user app experience independently, signaling that this was not just a demo but a commercialization rehearsal. This development has sparked excitement among analysts, who predict that AVAX's price could reach $10.35 this month due to the banking catalyst.