KakaoPay CEO Shin Won-geun: “Digital assets are a de facto ‘financial infrastructure’”

KakaoPay CEO Shin Won-geun stressed that digital assets should no longer be viewed as merely an investment target, but as “de facto financial infrastructure.”

Speaking at the “Digital Asset Industry Policy Roundtable” hosted on the 14th by the People Power Party’s Special Committee on Stock and Digital Asset Value-Up, Shin said, “Digital assets are evolving into everyday financial infrastructure, such as payments and settlement using stablecoins,” adding, “As major countries accelerate to preempt a new digital finance ecosystem, we too should move in earnest to advance discussions on a won-denominated stablecoin.”

He warned, “The longer the regulatory vacuum persists, the more domestic digital finance will inevitably be pushed out by overseas platforms fronted by dollar stablecoins,” and pointed to the urgency of introducing a won stablecoin that can be used by both Koreans and foreigners.

He also said, “A won stablecoin must deliver benefits people can actually feel,” adding that there is a need to focus on challenges existing finance has failed to solve, such as shortening complex settlement structures and reducing costs.

Shin, however, also underscored the importance of user protection. He said, “If the National Assembly sets standards of trust so that sufficient liquidity is secured throughout the entire process from issuance to distribution and users can be protected from risks, companies will be able to contribute to strengthening digital finance competitiveness on that foundation.”