Korean currency-linked crypto token debuted this week in South Korea. It is the first time that a local currency-based stable coin was issued.

Fintech startup BxB Inc announced Thursday the issuance of the Korean Won on the BlockChain (KRWB), a crypto coin whose value is linked to the Korean won on a 1 to 1 basis.

The coin was listed on Coblic in Korea and BEQUANT in London. BxB said it would seek a listing on multiple exchanges both at home and abroad in the first quarter of this year.