Kakao plans KRW stablecoin for daily use

Kakao Group has announced a plan to create a won-denominated stablecoin aimed at enhancing everyday financial infrastructure. The company proposed forming a consortium with both domestic and international financial institutions to collaboratively design the ecosystem. During the Next Finance Korea event on Sept. 28 in Seoul, KakaoBank CEO Yoon Ho-young outlined three main priorities for digital financial transformation: increasing the distribution of won-denominated stablecoins, developing payment and settlement infrastructure based on digital assets, and fostering a sustainable ecosystem through corporate partnerships. Son Kyung-hee, senior vice president of KakaoPay's digital asset group, emphasized the goal of making won-denominated stablecoins easily usable in daily services.

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