Key Takeaways:
- KakaoBank plans to issue and custody stablecoins, aligning with South Korea’s new pro-crypto regulatory environment.
- The bank filed for stablecoin trademarks and collaborates with affiliates like KakaoPay via a dedicated Stablecoin Task Force.
- KakaoBank has 25.86 million users and has already implemented digital asset services, including verified crypto accounts and AML measures.
KakaoBank, the digital banking arm of Kakao Corporation, is advancing its stablecoin initiatives amid growing crypto support in South Korea.
During its H1 2025 earnings call, CFO Kwon Tae-hoon confirmed that the bank is exploring stablecoin issuance and custody services, backed by a dedicated Stablecoin Task Force involving affiliates like KakaoPay.
JUST IN:
— Coinvo (@ByCoinvo) August 6, 2025
🇰🇷 SOUTH KOREA'S KAKAOBANK JUST ANNOUNCED THEY'RE WORKING ON A WON-BACKED STABLECOIN! pic.twitter.com/wl2BpEH4DR
This move follows the pro-crypto policy shift under President Lee Jae-myung, including proposed stablecoin legalization.
KakaoBank filed stablecoin-related trademarks in June, aligning with similar moves by Kookmin Bank.
In total, eight South Korean banks plan to launch Korean won-pegged stablecoins by 2026.
Kwon noted the bank’s prior experience in digital assets, including support for crypto exchanges, wallet services, and central bank digital currency (CBDC) pilots.
KakaoBank currently serves 25.86 million users and manages $46.47 billion in assets, with steady growth since 2021.
Despite this strategic push, its stock has shown limited gains, briefly peaking after the trademark filing.
Globally, stablecoin interest is rising – 90% of institutional firms are exploring integration.
Meanwhile, countries like Russia and the UAE are developing national stablecoin frameworks to capitalize on digital asset trends.
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