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KakaoBank Advances Won-Pegged Stablecoin Project Amid Regulatory Uncertainty

KakaoBank Advances Won-Pegged Stablecoin Project Amid Regulatory Uncertainty

Author:

Global Cryptocurrency

Published:

2025-11-26 17:54:02

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BTCCSquare news:

South Korea’s KakaoBank has moved its stablecoin initiative into active development, recruiting blockchain backend engineers with smart contract expertise. The MOVE signals a pivot from planning to execution in its bid to create a won-pegged digital currency.

The bank’s 2025 task force—collaborating with Kakao’s financial units—aims to build a digital finance ecosystem. CFO Kwon Tae-hoon confirmed explorations into issuance and custody solutions, though the Bank of Korea maintains strict oversight of stablecoin projects.

This development follows Naver Financial’s rival stablecoin efforts in Busan, highlighting Korea’s competitive fintech landscape. Regulatory hurdles persist, with authorities limiting stablecoin issuance to licensed banks.

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