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Key Notes
- KakaoBank is preparing to enter South Korea’s stablecoin market.
- The initiative involves leaders from KakaoBank, Kakao Pay, and Kakao.
- The bank reported strong H1 2025 earnings, with nearly 26 million users.
KakaoBank, South Korea’s largest digital-only bank, is preparing to enter the stablecoin market. As per local media outlets, the bank is exploring both the issuance and custody of digital assets, signaling a pivot to blockchain-based financial services.
Backed by the broader Kakao Group’s resources and infrastructure, KakaoBank’s stablecoin ambitions could ramp up the adoption of stablecoins in South Korea’s rapidly growing crypto economy.
A Broader Effort by Kakao
The initiative is part of a larger effort by Kakao Group, which has formed a dedicated stablecoin task force comprising leaders from KakaoBank, Kakao Pay, and the parent company itself.
The internal collaboration highlights the merge of banking, payments, and digital platforms, critical components for the real-world use of stablecoins.
Unlike speculative crypto assets, stablecoins are pegged to fiat currencies and used for remittances, payments, and settlements, making them more relevant to everyday users.
3 Years of Building
KakaoBank has spent the past three years building key infrastructure to support this transition. It has experience in providing real-name verified accounts for crypto exchanges and has been actively involved in risk management protocols such as KYC and AML systems.
The bank participated in the Bank of Korea’s central bank digital currency (CBDC) pilot program, managing digital wallets, facilitating transactions, and handling remittances.
With this foundation in place, KakaoBank is now turning its attention toward the issuance of a Korean won-pegged stablecoin.
A Strategy Mirroring US Companies?
KakaoBank’s integration with Kakao Pay, which has already filed trademark applications for stablecoin tickers, and its access to Kakao’s mobile platform infrastructure, including the KakaoTalk messaging app, offer a complete ecosystem for stablecoin issuance, distribution, and utility.
The setup mirrors successful models seen in the United States, where companies like PayPal and Stripe have introduced stablecoin functionality via their existing ecosystems.
Strong Financial Performance
KakaoBank’s entry into the stablecoin space comes amid a strong financial performance. In the first half of 2025, the bank reported a net profit of 263.7 billion won, up 14% from the previous year.
Deposits rose to 63.7 trillion won, and the user base expanded to nearly 26 million, almost half of South Korea’s population. The customer reach provides a massive advantage in promoting mainstream adoption of stablecoins once they are launched.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
Parth Dubey on LinkedIn
Unlock the Secrets of Ethical Hacking!
Ready to dive into the world of offensive security? This course gives you the Black Hat hacker’s perspective, teaching you attack techniques to defend against malicious activity. Learn to hack Android and Windows systems, create undetectable malware and ransomware, and even master spoofing techniques. Start your first hack in just one hour!
Enroll now and gain industry-standard knowledge: Enroll Now!
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