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- KakaoBank begins full development of its KRW-pegged “Kakao Coin” stablecoin project.
- The bank hires blockchain specialists to build secure systems and expand digital asset research.
- Major tech platforms are expected to push wider adoption of KRW-backed stablecoins nationwide.
KakaoBank has pushed its KRW-pegged stablecoin, internally known as “Kakao Coin,” into active development. The bank is building a dedicated blockchain infrastructure to support the project and has opened new hiring for specialized developers. This marks one of the institution’s most direct steps toward integrating blockchain into its core financial services.
The recruitment focuses on backend blockchain developers with strong skills in smart contracts, token standards, key-management systems, and secure transaction processing. The selected candidates will design new blockchain service structures, develop transaction systems, and manage sensitive cryptographic functions to ensure smooth and reliable digital asset operations.
KakaoBank Expands Blockchain Capabilities for Stablecoin Entry
A KakaoBank official stated that the reason for the hiring is to boost internal research on blockchain and stablecoin technologies. However, the bank is interested in testing their practical use in regulated financial environments, without compromising compliance and service security. This is a good sign of a move towards structured digital asset development.
The latest move comes after earlier remarks by CFO Kwon Tae-hoon during KakaoBank’s first-half 2025 earnings call in August. He said the bank is looking to get into the growing stablecoin market. Kakao Group, the parent company, also created a dedicated stablecoin task force and now has weekly strategy meetings to coordinate its overall digital asset direction.
Also Read: KakaoBank’s New Crypto Tool: Boosting Digital Banking and Crypto Markets in South Korea
KakaoBank is also moving into security token offerings. It has signed partnerships with Korea Investment & Securities and Lucent Block to establish blockchain-based STO financial products and issuance systems. However, these efforts are aligned with South Korea’s amended regulatory environment.
Regulatory Reforms Set Stage for South Korea’s STO Market
However, the government recently updated the Electronic Securities Act and the Capital Markets Act. The changes support the circulation of tokenized securities and allow the country to have the full-fledged STO market commissioned in the first half of 2026. Industry estimates indicate that the market value of South Korea’s STO sector is expected to be $287 billion in 2030.
The rush to stablecoins came after President Lee pledged support for a KRW-linked digital currency to be used for commercial and international trade. Major companies have responded swiftly.
Naver also recently introduced the local stablecoin wallet pilot in Busan with its partner Hashed and a local exchange, the Busan Digital Asset Exchange. Naver Financial is also moving toward a merger with Dunamu, the operator of Upbit, the biggest crypto exchange in the country.
Both Kakao and Naver have large payment platforms with millions of monthly users. Analysts believe the two companies will use their scale to push the adoption of KRW-pegged stablecoins in South Korea at an accelerated pace.
Also Read: Stablecoin Wallet From Naver Financial Set to Launch in Busan Next Month
