"Kakao Group launches Stablecoin TF... Joint participation of Kakao, Pay, and Bank CEOs"

It has been confirmed that Kakao Group is officially starting the stablecoin business, centering on key affiliates such as Kakao, Kakao Pay, and Kakao Bank.

According to industry sources on the 5th, Kakao Group recently established a TF (task force) to promote the stablecoin business. Core affiliate CEOs—including Jeong Shin-ah of Kakao, Shin Won-geun of Kakao Pay, and Yoon Ho-young of Kakao Bank—are reportedly directly participating in meetings. In addition, a separate working-level team composed of staff from each affiliate has also been set up under the TF.

The TF encompasses the key functions of stablecoin operations including platform (Kakao), payment (Kakao Pay), and banking (Kakao Bank), with each CEO reportedly leading discussions in their respective fields. The industry expects that, going forward, other affiliates like Kakao Games may also join, further expanding the project group-wide.

Meanwhile, Kakao has actively participated in the blockchain business. In 2019, it issued 'Klaytn (KLAY)' through its subsidiary Ground X. Later, this network was integrated with Finschia—developed by LINE of Naver—and now operates as KAIA. Kakao, Kakao Pay, Kakao Entertainment, and others still participate in the KAIA governance council. Recently, KAIA partnered with Tether to issue USDT on the network.