Kakao to build KRW stablecoin ecosystem, plans 'super wallet' via Kakao Pay

Kakao plans to develop a "super wallet" through its Kakao Pay service as part of a broader strategy to expand its stablecoin ecosystem both domestically and internationally, Financial News reported. At a symposium on transforming South Korean finance with a won-denominated stablecoin, Shin Won-keun, CEO of Kakao Pay and co-head of the Kakao Group Stablecoin Task Force, said the company will create initial use cases and a value chain for the stablecoin once the necessary legal and institutional frameworks are in place.