KakaoBank Plans to Launch Stablecoin and Custody Services in South Korea

KakaoBank is preparing to enter the stablecoin market, exploring issuance and custody of digital assets. This move indicates a shift towards blockchain-based financial services in South Korea.

Key points include:

KakaoBank is supported by Kakao Group's resources, which may enhance stablecoin adoption in South Korea's growing crypto economy.
A dedicated stablecoin task force has been formed within Kakao Group, involving KakaoBank and Kakao Pay.
KakaoBank has spent three years developing infrastructure for this transition, including real-name verified accounts for crypto exchanges and participation in the Bank of Korea’s CBDC pilot program.
The bank aims to issue a Korean won-pegged stablecoin, reflecting strategies similar to US companies offering stablecoin functions.
KakaoBank reported a net profit of 263.7 billion won in H1 2025, an increase of 14% year-on-year, with deposits reaching 63.7 trillion won and nearly 26 million users.

This customer base positions KakaoBank favorably for mainstream stablecoin adoption upon launch.