KakaoBank’s Stablecoin Push Signals Institutional Crypto Adoption in South Korea

South Korea's KakaoBank, backed by tech giant Kakao Corp, is making a decisive MOVE into stablecoins with plans to launch and custody digital assets. The bank's CFO Kwon Tae-hoon confirmed the initiative during their 2025 earnings call, revealing a dedicated Stablecoin Task Force involving KakaoPay and other affiliates.

The development coincides with a regulatory shift under President Lee Jae-myung's administration, which favors accelerated digital asset adoption. KakaoBank and Kookmin Bank filed stablecoin-related trademarks on June 23, with nine major South Korean banks expected to launch won-pegged stablecoins by 2026.

This institutional embrace of stablecoins reflects growing global momentum for regulated digital currencies. The move by a bank serving over 25 million customers underscores the maturing infrastructure for cryptocurrency adoption in traditional finance.