KakaoBank Prepares for South Korea’s Won-Based Stablecoin Market Launch

KakaoBank, the banking subsidiary of South Korea's Kakao Group, is positioning itself as a key player in the nation's emerging stablecoin market. The MOVE aligns with the government's push to establish a regulatory framework for won-backed digital assets, aimed at reducing capital flight and strengthening local financial infrastructure.

During its H1 2025 earnings call, CFO Kwon Tae-hoon revealed the bank's comprehensive digital asset strategy. KakaoBank is evaluating stablecoin issuance and custody solutions while collaborating with Kakao Group's dedicated task force. The institution brings three years of hands-on experience from providing real-name verified accounts for VIRTUAL asset exchanges, along with robust KYC/AML systems.

The bank's participation in the Bank of Korea's CBDC trials demonstrates its technical capabilities. Meanwhile, affiliate KakaoPay has filed trademarks for stablecoin-related symbols, signaling broader corporate ambitions in the digital asset space.