South Korean Neobanking Heavyweights Kakao Bank, Toss to Expand Crypto Operations

Key Points

1. Kakao Bank is broadening its crypto services, including a partnership with Coinone, allowing users to check crypto balances and KRW worth directly from its app.

2. Kakao Bank has applied for 12 trademarks related to crypto services and may expand its operations internationally, including in Thailand.

3. Toss Bank has filed 48 stablecoin-related trademarks and is involved with the Open Blockchain and DID Association (OBDIA), focusing on blockchain and digital identity technologies.

4. South Korea's new President Lee Jae-myun has adopted a progressive stance on crypto policy, including fast-tracking a stablecoin bill.

5. Other major banks like Kookmin and KEB Hana Bank have also applied for stablecoin-related trademarks, indicating broader industry interest in crypto integration.