#KakaoBank Plans Active Participation in #SouthKorean #Stablecoin Market


South Korea's KakaoBank announced plans to actively participate in stablecoin issuance and custody services during its earnings call Wednesday.


The bank, with 25.86 million users, is reviewing various methods including direct issuance in cooperation with Kakao's Stablecoin Task Force.


KakaoBank filed for stablecoin trademarks in June alongside rival Kookmin Bank, with eight other Korean banks planning #won-pegged stablecoins by 2026.


The move follows President Lee Jae-myung's election victory and subsequent push for crypto-friendly legislation, including stablecoin legalization.


South Korea's #crypto exchange users have surpassed 16 million, representing over 30% of the country's 51.7 million population.

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August 07, 2025 at 12:25 PM
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