KakaoBank, South Korea’s largest digital bank, is advancing plans to enter the stablecoin market with asset issuance and custody services. The initiative is spearheaded by an internal Stablecoin Task Force as the bank aligns with the country’s progressive regulatory shift under President Lee Jae.
The institution, serving over 25.86 million users across nearly half of South Korea’s population, has seen its stock price fluctuate with trademark filings for stablecoin services triggering earlier gains. While market response remains guarded, recent trading showed a slight recovery to 27,150 Korean won ($19.60).
Industry reports indicate growing momentum for stablecoin adoption, with Fireblocks data revealing 90% of institutional players are actively exploring use cases. KakaoBank’s strategy capitalizes on both this global interest and South Korea’s supportive regulatory developments to expand its digital asset foothold.
The move underscores commercial banking’s accelerating integration into crypto infrastructure, positioning KakaoBank at the forefront of South Korea’s transformation into a regulated digital assets hub.