Kakao reportedly in talks with banks for KRW stablecoin alliance

Kakao Pay has recently approached major commercial banks to discuss a potential KRW-pegged stablecoin consortium, the Seoul Economic Daily reported. According to the report, discussions are already underway with BNK Financial and JB Financial. A high-level industry official familiar with the matter told the outlet that Kakao had prepared a meeting with multiple banks to discuss the vision, challenges, and future research direction for the project. The official added that conducting a Proof of Concept (PoC) with interested banks was also considered. While the meeting was postponed to allow for further coordination, the source noted that this marks the official start of Kakao's initiative.