Korean Kakao Bank advances stablecoin plan to development stage

According to The Block, Kakao Bank, the digital banking division of South Korean IT giant Kakao, has advanced its plan for a Korean won-pegged stablecoin to the actual development stage. Its website shows that it is recruiting backend developers for blockchain services, with key requirements including: a deep understanding of smart contracts, familiarity with token standards, and experience in transaction management and full node operation.