KakaoBank is accelerating the development of KRW stablecoin and on-chain settlement infrastructure.

According to ChainCatcher, citing Decrypt, South Korean IT giant Kakao's digital bank KakaoBank is accelerating the development of a technical system to support KRW stablecoins and tokenized assets, covering smart contract execution, token standards, full nodes, and issuance management backend. Its blockchain partner Kaia has already submitted at least four KRW-pegged stablecoin trademarks in August.

Sam Seo, Chairman of the Kaia Foundation, stated that they are communicating with multiple parties regarding the KRW stablecoin POC, but details remain confidential and cannot be disclosed at this time.