South Korean Banks Accelerate Stablecoin Initiatives Amid Regulatory Shifts

South Korea's banking sector is making aggressive moves into cryptocurrency and stablecoin operations as new legislation looms. Woori Bank has established a dedicated Digital Asset Team, reviving shelved projects like crypto custody services and seeking partnerships with blockchain firms. KB Kookmin Bank is coordinating digital asset strategies across its affiliates through a specialized consultative body.

The push reflects broader global momentum, with the U.S. advancing the GENIUS Act for stablecoin regulation. South Korean institutions are positioning themselves at the forefront of this shift, preparing for potential legalization of stablecoin issuance and management. This institutional embrace signals a maturation of the digital asset economy in Asia's fourth-largest economy.