KakaoBank plans to ‘actively participate’ in stablecoin market: Report

Key Points

1. KakaoBank is reviewing various methods to engage in the digital asset ecosystem, including stablecoins, as part of its strategic plans.

2. The bank has filed for stablecoin-related trademarks and has experience in digital assets, including wallet services and participation in the Bank of Korea’s CBDC experiment.

3. KakaoBank has 25.86 million users and $46.47 billion in assets under management, with steady growth since 2021.

4. South Korea's crypto exchange users have surpassed 16 million, representing over 30% of the country’s population.

5. KakaoBank’s stock price saw a 19.3% increase after filing for stablecoin-related trademarks, though it remained flat during the latest trading session.