Korean platform giants Naver and Kakao, along with Mirae Asset and commercial banks, are preparing to change their systems in line with the increasing use of global stablecoins. The intention is to advance into the market quickly as domestic digital asset legislation is completed. Kakao Group plans to provide stablecoin remittance and payment services on Kakao Bank and Kakao Pay and expand stablecoin users by partnering with major platform operators. Launched in August, the Kakao Stablecoin TF, centered on Kakao, Kakao Bank, and Kakao Pay, has identified stablecoins as the next-generation financial tool and has begun preparing to implement the Super Wallet strategy.
Yoon Ho-young, head of Kakao Group’s stablecoin task force, said at a symposium on the 23rd that they aim to deliver payment services by collaborating with major global super app players around the world through won stablecoins. The initiative reflects Kakao’s push to integrate stablecoins as a next-generation financial tool through the Super Wallet strategy.
Naver, Korea’s largest portal, is pursuing global financial opportunities using blockchain and has advanced into global financial firms by merging with Dunamu, the operator of Upbit. The two companies plan to design a next-generation financial network that combines artificial intelligence and blockchain and establish a global platform that spans financial and living services beyond payment settlement. They are Korea’s leaders in simple payment, internet platform, and digital assets.
Mirae Asset Financial Group is accelerating its digital asset initiatives, aiming to develop a digital global wallet with a planned launch next June. It has announced joint development of fund tokenization and on-chain management and payment systems with Ava Labs, the developer of the Avalanche blockchain. Mirae Asset Asset Management released a Bitcoin Covered Call ETF via its U.S. subsidiary Global X in June.
The five major Korean banks—KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup—are advancing Project Pax, testing Japan’s Progmatt stablecoin remittance technology. Hana Financial Group plans to strengthen global financial services using blockchain in partnership with Dunamu and to roll out cross-border transfers using blockchain as early as Q1 next year. Hana Financial plans to introduce a service applying blockchain technology when transferring money between Hana Bank’s headquarters and overseas subsidiaries and branches as early as the first quarter of next year.
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