Kakao Partners with Circle to Develop Korean Won Stablecoin on July 23

According to an official announcement, Kakao Group and U.S. stablecoin firm Circle signed a strategic partnership (MOU) on July 23 to develop Korean won-denominated digital assets and blockchain-based payment infrastructure. The collaboration combines Kakao's digital platform and financial services capabilities with Circle's blockchain technology and global payment infrastructure expertise.

The partnership will focus on Korean won-based digital assets, tokenization services, faster payment and settlement systems, and cross-border payments. Both companies also plan to explore interoperability between blockchain networks and traditional financial systems to establish a foundation for Korea's next-generation digital asset ecosystem.