South Korean crypto venture firm Hashed has published a litepaper for Maroo, a proposed Layer 1 blockchain aimed at a regulated KRW stablecoin ecosystem. The project is being developed by Hashed Open Finance, an affiliated unit focused on blockchain infrastructure aligned with financial rules. Maroo is not being framed as a general-purpose public chain. Its target is narrower: stablecoins and onchain financial services designed around South Korea’s expected compliance requirements.
Compliance built into the network itself
Maroo’s design places compliance at the center of the protocol rather than treating it as an external layer. Under the proposed model, the network would use a dual transaction structure that separates open participation from activity subject to regulation. Basic wallet creation and transfers would remain permissionless, while transactions above certain thresholds, or those involving regulated entities, could trigger identity checks or added controls.
The litepaper also describes a programmable compliance layer. Transfer caps, regulatory screening, and similar rules could be enforced directly at the protocol or smart-contract level. Hashed says that approach would allow the network to adjust to rule changes without changing its core architecture. It also points to selective disclosure mechanisms, so compliance checks could be performed without exposing full user data by default.
Fees are expected to use KRW stablecoins
Transaction fees on Maroo are expected to be paid in KRW-denominated stablecoins. Hashed says that structure is intended to reduce volatility and make the network easier to use for payments and settlement. Hashed CEO Simon Kim said stablecoins are emerging as a key pillar of financial infrastructure in global markets. He described Maroo as an experiment that seeks technological openness in line with global standards while respecting Korea’s regulatory environment, and said the project could serve as a base for banks, financial institutions, and fintech companies exploring next-generation financial services.
Positioned for Korea’s domestic stablecoin market
Hashed is presenting Maroo as infrastructure tailored to South Korea’s local stablecoin market, not as a direct challenger to existing Layer 1 networks on a global scale. The plan lines up with ongoing discussions in Korea around stablecoin issuance, custody, and consumer protection, though no formal endorsement from the government has been announced.
For now, the project remains a conceptual framework. Hashed has not disclosed a launch timeline, validator model, or confirmed institutional partners. At this stage, Maroo is meant to show how a blockchain could operate inside Korea’s regulatory setting while still supporting onchain innovation. The firm said more technical details and ecosystem plans will be released as development continues.