KakaoBank Develops Won-Backed Stablecoin

KakaoBank, a leading South Korean financial institution, is reportedly developing a won-backed stablecoin, leveraging its strength in retail and chat app services. This move aligns with new regulations allowing banks to introduce digital currencies, potentially streamlining transactions and offering real value. However, strict laws on international transfers pose challenges.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.