The Chief Financial Officer of KakaoBank, a banking division of Korean IT giant Kakao, Kwon Tae-hoon, stated that the bank is reviewing new business opportunities involving digital asset issuance or custody, and is collaborating with Kakao's stablecoin working group to make relevant preparations. Previously, KakaoBank has issued real-name verified accounts on virtual asset exchanges and operated KYC/AML monitoring, and has participated in the Bank of Korea's central bank digital currency experiment, handling digital wallets, transactions, and remittances. (The Block)
South Korea's KakaoBank plans to enter the stablecoin market
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