Kakao Pay, KakaoBank to explore stablecoin opportunities with Fireblocks

Kakao Pay and KakaoBank are exploring digital asset opportunities with Fireblocks, including infrastructure for stablecoins.

South Korean financial companies Kakao Pay and KakaoBank have signed a memorandum of understanding (MoU) with crypto infrastructure provider Fireblocks to explore digital asset opportunities, including stablecoins. 

Under the agreement, the companies will conduct proof-of-concept tests for digital asset infrastructure suited to South Korea’s regulatory, security and service requirements. The initiative aims to help establish secure onchain infrastructure for the country’s emerging digital asset market. 

The announcement on Monday did not include a launch, investment or implementation timeline. 

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