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KakaoBank Eyes Stablecoin Market After South Korea’s CBDC Pilot Halts
KakaoBank Eyes Stablecoin Market After South Korea’s CBDC Pilot Halts
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BTCCSquare news:
KakaoBank, South Korea's leading digital bank, is positioning itself to enter the stablecoin sector following the Bank of Korea's decision to shelve its central bank digital currency pilot. CFO Kwon Tae-hoon confirmed the bank is exploring roles in both issuance and custody, leveraging its technical expertise from participation in the now-defunct CBDC project.
The shift comes as President Lee Jae-myung's administration paves the way for private stablecoin issuance. KakaoBank's operational experience with digital wallets and transfers during the BOK pilot, coupled with three years of crypto exchange compliance work, gives it a regulatory edge in an increasingly competitive market.
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