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KakaoBank is preparing to enter the KRW stablecoin market.
KakaoBank, the digital bank under the technology group Kakao of South Korea, announced that it is considering implementing activities related to the issuance and custody of digital assets, while also coordinating with Kakao's stablecoin task force.
CFO Kwon Tae-hoon stated that the bank is positioning itself to become a key player in the stablecoin market, especially as South Korean President Lee Jae Myung promotes the development of a domestic stablecoin ecosystem based on the won to prevent capital outflow.
KakaoBank has participated in the CBDC pilot of the Bank of Korea and currently has a solid KYC/AML platform as it assigns identification accounts for the crypto exchange.
The bank also reported an operating profit for the first half of 2025 of 353.2 billion won (~254 million USD), an increase of 11% compared to the same period last year. The total deposits reached 63.7 trillion won (~45.8 billion USD), with nearly 1 million new users, bringing the total to 25.86 million – equivalent to nearly half of South Korea's population.