KakaoBank Accelerates KRW Stablecoin Plan with New Blockchain Hiring

Highlights:

• KakaoBank is pushing its stablecoin plan with new hirings to boost the development pace.
• The KRW stablecoin development has gained speed as KakaoBank aligns its strategy with digital asset rules.
• Naver and Kakao are competing for digital payment growth as both firms build new blockchain services.

KakaoBank has moved its stablecoin plan into full development as it builds new blockchain infrastructure. The bank confirmed progress through new job listings for blockchain backend developers. The roles demand a good understanding of smart contracts and token specifications. They also require experience working with keys, nodes, and transaction systems.

🚀 LATEST: SOUTH KOREA'S KAKAOBANK JUST STARTED BUILDING IT’S OWN KOREAN WON BACKED STABLECOIN. pic.twitter.com/QhLBFYUveR

— Coinwaft (@coinwaft) November 26, 2025

The bank said the recruitment supports research into blockchain technology. It also helps the team test possible uses for financial services. Its developers will design new blockchain service structures and work on related systems.

KakaoBank’s leadership has noted this direction before. CFO Kwon Tae-hoon said in August that the bank plans to explore digital asset issuance. He also said the bank may enter custody services. His comments formed the first indication of the bank’s shift toward blockchain integration. The new development phase now confirms that direction.

Regulatory Momentum Shapes KakaoBank’s KRW Stablecoin Strategy

This development phase comes as South Korea studies new rules for digital assets. The government continues to examine the structure of token securities. Lawmakers expect the Security Token Offerings (STO) market to open in the first half of next year. The industry estimates that the country’s STO market may reach $287 billion by 2030. KakaoBank plans to position itself ahead of this timeline.

Korea’s National Assembly has taken the first major step toward formalizing Security Token Offerings (STO). The relevant amendments to the Electronic Securities Act and Capital Markets Act passed the subcommittee on Nov 24 with bipartisan support. Given the political consensus… pic.twitter.com/IXDKixujCH

— Soomin (@0xFactriot) November 24, 2025

Kakao Group has already created a task force focused on stablecoin planning. The teams meet weekly to build a unified framework. These discussions include possible use cases and technical designs. KakaoPay also filed trademark applications for KRW-linked tickers. These filings point to broader plans across the Kakao ecosystem.

President Lee’s pledge to back a won-based stablecoin added more pressure to the sector. He said a KRW-pegged token can support trade and business activity. His proposal aims to reduce reliance on dollar-pegged stablecoins. The Bank of Korea maintains that only licensed banks should issue such tokens. This stance has created friction with some industry groups. The debate now influences the timing of each company’s project.

KakaoBank continues building its blockchain network during this policy shift. The bank also signed partnerships with Korea Investment & Securities and Lucent Block. These firms will support the bank’s STO development. Their work includes designing blockchain-based financial products. These steps add weight to the bank’s long-term digital finance plans.

Kakao and Naver Compete for Digital Payment Leadership

The advancement of the KRW Stablecoin of KakaoBank coincides with the expansion of the digital finance plan by Naver. Naver recently unveiled a wallet service pilot in Busan using a local stablecoin. The company collaborated with Hashed and the Busan Digital Asset Exchange. This action indicates an increasing competition between large technology platforms.

NaverPay has 30 million monthly users. KakaoPay has 42 million registered members and solid daily activity. Both platforms plan to use their large user bases to scale stablecoin services. Their competition now defines the next stage of local fintech development.