In accordance with BitcoinWorld, KakaoBank has reportedly begun developing its own stablecoin, internally referred to as Kakao Coin. The project, which has moved from the review phase to active development, is backed by South Korean won and aims to integrate directly with the bank’s financial services. The development follows the recent legal clearance of Kakao founder Kim Beom-su, removing prior uncertainties. The stablecoin is expected to facilitate faster and cheaper transactions while maintaining traditional currency stability. It may also integrate with Kakao’s ecosystem, including KakaoTalk. Specific launch details and broader usage have not yet been disclosed.
KakaoBank Begins Developing Proprietary Stablecoin, Kakao Coin
BitcoinWorldShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.