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The banking branch of South Korean IT veteran Kakao Corporation is allegedly planned to offer stabecoin services amid a regulatory change in the country J-Mung.
Kakobank Chief Financial Officer Quon Taye-Hun said that the company is making the first-half 2025 income call that the company is reviewing the “digital asset ecosystem,” the JDDNet Korea report “in the ZDDNet Korea Report” and “Plans to participate actively”.
Quon added that initiative
Kakobank’s Stabelcoin follows the election of President Lee J-Mung in June, which has carried forward with various crypto-friendly laws, which also includes a bill to legalize Stabecrims.
Kakobank Latting Groundwork
Kakaobank filed for StableCoin-Halated Trademark on 23 June, also as a subsidiary of KB Financial Group, rival Kukmin Bank. Eight other major South Korean banks are also planning Korean Won-Paiged Stabecrim to launch by 2026.
Quon reportedly stated that Cakobanks already experience in digital assets, “successfully focused wallets, exchange”, and the Central Bank Digital current currency of Bank of Korea participated in the current currency experiment.
“For the last three years, we have been issued real-name verified accounts for virtual asset exchanges and are operating risky measures such as their customer and anti-myney laundering-based monitoring,” Quon said.
Kabqanki has 25.86 million users, which represent about half of the South Korea’s population 51.7 million and by March this year under management under management, $ 46.47 billion.
After promoting US President Donald Trump’s election win last November, Crypto Exchange users in South Korea have also crossed 16 million. This figure represents more than 30% of the country’s population.
Kakaobank Stock Stock Lives
Earlier, after Cakobank filed for Stabeloin-related trademarks, its share price increased by 37,000 Korean ($ 27) from $ 22.60, 19.3% incredibly.
However, following the latest update to its stabeloin plans, the share price earned SMAL profit on Wednesday, which reached the peak of 27,825 ($ 20.10) for the trading session, returning to 26,900 by Bell ($ 19.43) by Bell.
In the latest trading session on Thursday, its share price earned only a small profit, growing 0.93% to trade in 27,150 Korean Won ($ 19.60).
The bank has been working since 2016 and was established through a partnership between Korea Investment Holdings and Kakao Corp.
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Stablecoins use eyes worldwide
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Enterprise-Gene Digital Asset Platform Form Fireblock report found that 90% of the surveyed institutional players have discovered the use of stabecon in other tasks.
Meanwhile, an Russian Finance Ministry official made a plan for the government in April to develop his own stabechoin, one of which a major Abu Dhabi institutions made a new Dirham-Paigdd Stabecin in the same month.
magazine: Fake JD Stabecrimins, Scammers Empherson Solana Devs: Asia Express
