Kakao Bank Advances Stablecoin Initiative into Development Phase
South Korea's Kakao Bank is accelerating its stablecoin ambitions, moving the Kakao Coin project into active system development. The initiative, following a group-wide review of a KRW-pegged stablecoin, marks a strategic push into blockchain-based financial services.
The bank has begun recruiting developers for its New Business Service Development Team, tasking them with designing blockchain backend architectures, transaction systems, and key management solutions. Required expertise includes full-node operation, token standards, and smart contracts—signaling plans for a comprehensive financial infrastructure.
This development follows the legal clearance of Kakao founder Kim Beom-soo, who was acquitted in a stock manipulation case last month. The bank's pivot toward stablecoins and tokenization services reflects growing institutional interest in bridging traditional finance with digital assets.
