KakaoBank Shakes Up Korean Finance: Launching Won-Pegged Stablecoin in Bold Digital Asset Move

South Korea's digital banking giant makes its crypto play—and they're hiring aggressively to make it happen.

The Stablecoin Gambit

KakaoBank isn't just dipping toes in the digital asset waters—they're diving headfirst with a Korean won-pegged stablecoin that could revolutionize local finance. While traditional banks keep treating crypto like a dangerous cousin, KakaoBank's move signals a fundamental shift in institutional acceptance.

Talent Acquisition Blitz

The recruitment drive speaks volumes: blockchain developers, crypto compliance experts, and digital asset specialists are suddenly in high demand. They're building what could become Korea's first major bank-backed stablecoin ecosystem—because apparently, waiting for regulators to figure things out wasn't profitable enough.

Banking's Crypto Awakening

This isn't just another fintech experiment. It's a calculated bet that traditional banking and decentralized finance can coexist—and that customers want stability without the banking hours. Because nothing says financial innovation like creating digital versions of the money we already have, just with better technology and worse customer service hours.

KakaoBank Lays Foundation for Token Offering

The bank is also planning for its security token offering (STO), leveraging blockchain, the report added. KakaoBank has signed partnerships with Korea Investment & Securities and Lucent Block to develop blockchain-based STO financial products and systems.

This comes days after South Korea advanced token securities issuance with legislative amendments to the Electronic Securities Act and the Capital Markets Act. The changes lay the groundwork for the STO circulation market to open in H1 2026.

Further, the country’s financial industry estimates that its security token offerings (STO) market could be worth $287 billion by 2030.

The stablecoin race in South Korea started after President Lee pledged to launch a KRW-pegged coin for use in business and international trade.

Kakao Joins Stablecoin Race With Naver

The bank’s announcement arrives shortly after South Korean tech giant Naver reported launching a wallet service for local stablecoin in Busan city.

Naver said it has partnered with venture capital firm Hashed and the Busan Digital Asset Exchange (BDAN).

Besides, Naver Financial has moved toward a merger with Dunamu, the operator of Upbit, South Korea’s largest crypto exchange.

Like KakaoPay, Naver has its own payment platform, used by 30 million people monthly. Both Kakao and Naver are expected to use their millions of user base to gain stablecoin traction.