KakaoBank go launch stablecoin wey pegged to KRW through Kakao Pay
KakaoBank, wey be South Korea biggest digital-only bank, dey plan to issue and hold one stablecoin wey dey pegged to Korean won. The new KRW stablecoin project dey supervised by one task force with people from KakaoBank, Kakao Pay and Kakao Group. The bank dey use blockchain-based system, real-name verification, KYC/AML systems wey dem don build for three years plus their involvement for Bank of Korea’s CBDC pilot to manage digital wallets and transactions. For first half of 2025, KakaoBank report net profit of 263.7 billion KRW, wey rise by 14% compared to last year, and dem grow their user base to 26 million. Dem join Kakao Pay and KakaoTalk for full ecosystem to distribute and use KRW stablecoin. Traders suppose watch out for more competition for Asia digital currency market and possible changes for stablecoin trading.
Bullish
The announcement of KakaoBank KRW stablecoin na good for the new token market. Short-term, joining with Kakao Pay and KakaoTalk fit get users dey use am and also liquidity go increase as traders dey find digital assets wey pegged to KRW for on-chain transactions. Long-term, KakaoBank well-built digital infrastructure, strong KYC/AML systems plus CBDC pilot experience stand as strong foundation to make stablecoin usage last. This development fit make trading volume increase and market depth for Asia stablecoin sector better.