KakaoBank’s Stablecoin Shenanigans: Crypto or Chaos? 😂

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KakaoBank, the banking arm of Kakao Corp, is apparently feeling *very* stable these days. With President Lee Jae-myung’s pro-crypto vibes, they’re all set to dive into the stablecoin game. Because nothing says “I’m in charge” like a stablecoin launch. 💸

Chief Financial Officer Kwon Tae-hoon, during the 2025 earnings call, casually mentioned they’re “reviewing methods like issuance and custody” to “actively participate” in the digital asset ecosystem. ZDNet Korea reported this with the enthusiasm of someone who just found out their ex is dating a toaster. 🤖

Kwon’s team is collaborating with Kakao’s Stablecoin Task Force-a group of leaders who probably spend more time in meetings than on their phones. KakaoPay’s involvement is just the cherry on top of this crypto sundae. 🍓

This move follows President Lee’s crypto-friendly policies, which are basically a green light for everyone to act like they’ve invented the wheel. June’s election was the cue for KakaoBank to start trademarking stablecoins on June 23, right alongside Kookmin Bank. Eight other banks are joining the party by 2026. It’s like a stablecoin beauty pageant, and we’re all in the audience. 🎤

Oh, and KakaoBank already has experience in digital assets. They’ve been “successfully conducting wallet openings and exchanges” and even played with the Bank of Korea’s CBDC experiment. Because who *wouldn’t* want to test a government-backed digital currency? 🤷‍♀️

Kwon proudly mentioned their KYC and AML measures. Because, obviously, we need a bank that’s *both* a crypto pioneer and a crime-fighting machine. 🕵️‍♂️

With 25.86 million users (half of South Korea’s population), KakaoBank is basically the Beyoncé of banking. They’ve got $46.47 billion in assets and a stock price that’s as volatile as a teen’s mood swings. 📉

South Korea’s crypto users hit 16 million after Trump’s election win. Because nothing unites a nation like a shared obsession with crypto and political drama. 🤝

Stock Price: A Rollercoaster of Emotions 🎢

After trademarking stablecoins, KakaoBank’s stock jumped 19.3%. But now? It’s a “small gain” to 27,150 won. Because why not make investors feel like they’re on a emotional yo-yo? 🎢

Thursday’s trading session was a masterclass in underwhelming. The stock rose 0.93%-a performance so lackluster, even the coffee machine was disappointed. ☕

KakaoBank’s been around since 2016, a partnership that’s probably still awkward. Korea Investment Holdings and Kakao Corp: still not sure who’s in charge. 😅

Global Stablecoin Shenanigans 🌍

Other countries are also diving into stablecoins. Russia’s finance ministry wants its own stablecoin, while Abu Dhabi’s institutions teamed up for a dirham-pegged one. Because why not let the whole world play stablecoin tag? 🎮

Fireblocks’ report says 90% of institutions are eyeing stablecoins. Because nothing says “I’m a responsible adult” like trusting a digital token more than your bank. 🤡

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2025-08-07 06:48