KakaoBank Explores Stablecoin Expansion Amid South Korea’s Crypto Push

KakaoBank is positioning itself to capitalize on South Korea’s growing crypto market, with plans to offer stablecoin-related services.

CFO Kwon Tae-hoon confirmed during the bank’s earnings call that it is assessing stablecoin issuance and custody solutions, signaling a strategic shift into digital assets.

The initiative is backed by Kakao’s Stablecoin Task Force, which includes key figures from KakaoPay and other subsidiaries.

The decision follows President Lee Jae-myung’s election, which has led to a wave of crypto-friendly regulatory reforms, including the legalization of stablecoins.