Kakao’s digital banking arm KakaoBank advances South Korean won stablecoin plan to development stage

According to Foresight News, according to Newspim, KakaoBank, the digital banking arm of South Korean IT giant Kakao, has begun developing its own stable currency linked to the Korean won, and KakaoBank is recruiting blockchain service back-end developers. Key requirements include proficiency in smart contracts, understanding of token standards, and experience in transaction management and full node operations.


Previously, the group’s payments subsidiary KakaoPay submitted copyright applications for six stablecoin tickers: PKRW, KKRW, KRWP, KPKRW, KRWKP, KRWK, which appear to combine Kakao or KakaoPay with the Korean won (KRW).


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