KakaoBank to Launch Won-Pegged Stablecoin in 2025 Amid South Korea’s Crypto Push

South Korea's leading digital bank, KakaoBank, is making a decisive move into cryptocurrency with plans to issue a Korean won-backed stablecoin by the first half of 2025. The initiative leverages the bank's established real-name account infrastructure, which has been refining KYC and AML protocols for three years.

The announcement came during KakaoBank's H1 2025 earnings call, where CFO Kwon Tae-hoon emphasized the institution's focus on maintaining both price stability and technical robustness. The digital bank has already gained operational experience through participation in the Bank of Korea's CBDC pilot program, testing digital wallets and transfer systems.

This development signals growing institutional crypto adoption in South Korea, where regulators are progressively creating frameworks for digital assets. KakaoBank's entry could significantly impact local stablecoin liquidity and potentially influence broader Asian crypto markets.