KakaoBank plans to introduce a Korean won-backed stablecoin by 2025, driven by senior leadership and regulatory collaboration, enhancing digital asset strategy in South Korea.
This launch could reshape the domestic stablecoin market, offering compliance-backed digital currency alternatives and leveraging Kakao’s vast user network.
KakaoBank is set to launch a Korean won-backed stablecoin by 2025. A dedicated task force from KakaoBank, KakaoPay, and Kakao is actively working on it, with extensive regulatory support and financial strength ensuring careful preparation.
Key figures like Kwon Tae-hoon and CEOs from KakaoBank, Kakao, and KakaoPay are leading this initiative. KakaoBank’s participation in CBDC pilots with the Bank of Korea provides valuable experience in managing digital assets.
KakaoBank Aims to Reduce USD Stablecoin Dependence
The launch is expected to strengthen KakaoBank’s position against competitors in the stablecoin market. It aims to reduce dependency on USD-based stablecoins in South Korea, aligning with recent regulatory trends.
KakaoBank’s strong financial presence, backed by a KRW 353.2 billion profit in the first half of 2025, positions it well for this venture. The stablecoin will integrate with Kakao’s fintech services, enhancing mainstream payments and remittance. Yoon Ho-young, CEO of KakaoBank, commented, “Our stablecoin effort is poised to enhance mainstream payments and remittance in the Kakao ecosystem.”
South Korea’s Digital Asset Landscape: KakaoBank’s Unique Approach
Historically, South Korean banks like Kookmin and IBK have explored digital asset pilots, but KakaoBank’s approach is unique due to its existing user base and experience in CBDC phases, promising broad public integration.
Experts from Kanalcoin highlight KakaoBank’s regulatory advantage and financial backing as potential strengths for the stablecoin’s success. Historical trends indicate such well-supported initiatives generally fare positively in competitive markets.
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