KakaoBank Prepares to Launch Stablecoin Services as South Korea Warms to Crypto

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KakaoBank, the digital banking arm of South Korean tech giant Kakao Corp., is positioning itself to become a major player in the stablecoin market.

The bank’s CFO, Kwon Tae-hoon, revealed during its latest earnings call that it is evaluating stablecoin issuance and custody solutions as part of a broader push into digital assets.

This strategic shift follows the election of President Lee Jae-myung, whose administration has prioritized crypto-friendly policies, including legalizing stablecoins.

KakaoBank is collaborating with its parent company’s Stablecoin Task Force—comprising leaders from KakaoPay and other subsidiaries—to drive the initiative.