Kakao Pay and Kakao Bank said on September 22 that they signed a memorandum of understanding with Fireblocks to explore secure digital asset infrastructure in South Korea.

The collaboration will cover stablecoins, distribution frameworks, and proof-of-concept tests tailored to local regulatory, security, and service requirements.

Fireblocks, a New York-based digital asset infrastructure provider, provides digital asset and stablecoin infrastructure for institutions.

The deal builds on Kakao’s blockchain work after the group teamed up with Circle in July 2026 on stablecoin-based payments and cross-border services using USDC.

The project comes as South Korean regulators are creating rules for stablecoin issuance, reserves, and disclosure, while broader digital asset legislation remains delayed.

It also comes amid wider market activity, with South Korean banks teaming up with tech firms on stablecoin projects.

The Bank of Korea has also prioritised central bank digital currencies, while the country has begun rolling out deposit-token payments based on central bank digital currencies.

🔗 Source: Fireblocks

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