South Korea’s KakaoBank has entered the development phase for its KRW-pegged stablecoin, named “Kakao Coin,” according to an official statement. The bank also announced new hiring for blockchain backend developers to support the initiative.
The recruitment will focus on smart contract management, blockchain infrastructure, and secure transaction processing.
“This is to supplement human resources for research on blockchain and stablecoin technologies and to examine their applicability to financial services,” a KakaoBank spokesperson said.
The project aligns with KakaoBank’s broader plans for a security token offering (STO), in partnership with Korea Investment & Securities and Lucent Block. Analysts estimate that South Korea’s STO market could reach $287 billion by 2030, following recent legislative updates to the Electronic Securities Act and the Capital Markets Act.
Market watchers should follow updates as KakaoBank progresses with pilot testing and regulatory approvals, potentially launching the stablecoin in early 2026. The move positions Kakao alongside Naver in South Korea’s expanding stablecoin ecosystem.
Source: https://www.newspim.com/news/view/20251125000836
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