KakaoBank Launches Korean Won-Pegged Stablecoin Development

KakaoBank has taken a decisive step towards entering the digital finance sector by initiating development of a Korean won-pegged stablecoin. This move positions KakaoBank to compete with rivals like Naver, which is developing its own stablecoin project in tandem with its merger with Upbit. The Bank’s ambitious plan is part of an effort to navigate regulatory challenges and create a robust digital financial ecosystem.