KakaoBank announces its plans to venture into the stablecoin market in South Korea, supporting the government’s digital finance initiatives aimed at bolstering the Korean won’s stability.
With mobile banking penetration in South Korea nearing 50%, the nation shows strong adaptability to financial digitalization, which can enhance stablecoin adoption.
Experts suggest KakaoBank’s entrance could invigorate competition and expedite regulatory advancements in South Korea’s digital asset ecosystem.
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