KakaoBank is accelerating the development of the Korean won stablecoin and on-chain settlement infrastructure

According to Decrypt, South Korean IT giant Kakao's digital bank KakaoBank is accelerating the development of a technical system that supports KRW stablecoins and tokenized assets, covering smart contract execution, token standards, full nodes, and issuance management backend; its blockchain partner Kaia has submitted at least four trademarks for Korean won-pegged stablecoins in August.

Sam Seo, chairman of the Kaia Foundation, stated that they are in discussions with multiple parties regarding the KRW stablecoin POC, but details are not disclosed due to confidentiality.