The election of President Lee Jae-myung has accelerated South Korea’s crypto adoption—and now KakaoBank is stepping into the stablecoin market.
The bank’s CFO, Kwon Tae-hoon, stated that it is “reviewing issuance and custody options” and plans to “actively participate” in the digital asset space.
KakaoBank is working with its parent company’s Stablecoin Task Force, which includes leadership from KakaoPay, to develop its stablecoin strategy.
The move comes as South Korea advances legislation to formally recognize and regulate stablecoins.
