Kakao Prepares Korean Won Stablecoin on Kaia as Lawmakers Weigh New Rules

The South Korean Internet Congograt cocoa preparation Korean won (KRW) Stablecoin on Kaia Blockchain, after registering new trademarks and pushing the installation of a digital KRW through its ecosystem to meet an increasing demand for faster payments, remissions and solutions.

Kaia, which manages the public blockchain formed from the merger of Klaytn -ai Finschia, has been discovered Decipher That he registered “Krwglobal”, “Krwgl”, “Krwkaia” and “KAKRW” trademarks with the Korean Intellectual Ownership Office earlier this month.

Since cocoa and cocoa pay for their management council, Kaia was conquered token as a bridge at stabiblekoins supported USD and JPY.

Users and companies throughout the cocoa ecosystem, which the company says already serving over 49 million monthly active users in South Korea, will be able to “access the products of Define within mobile applications used throughout the country, bringing these decentralized financial projects to life”, Dr. Sangmin SEO, said DLT KAIA Chairman Decipher.

However, Stableco’s legislation in South Korea remains up to date, with competitive accounts and a frame of the administration still in conversations.

Earlier in June, administration prominent Digital Property Act that would allow qualified companies to issue the conquered tokens if they meet the minimum requirements for capital.

In the meantime, the bank of Korea proposed Starting with stable trees first and studies deposit tokens on public chains.

At the end of last month, the ruling and opposition parties of South Korea Filed Competitive Stabilcoin Accounts. They split whether they would allow interest on stabilecoin deposits, as they agreed with full reserve support and emergency authorities for regulators.

The challenge for Krw Stablecoins, however, is “a lack of clear, convincing cases of use compared to dollar trees,” said Min Jung, a senior analyst in a quantitative trade company Presto, said Decipher. “It takes more research to recognize and develop practical application.”

Strict capital controls in South Korea also “make it crucial to understand how these regulatory obstacles will be resolved,” he added.

“Because the true value of stable data is reduced in friction, especially in cross -border payments, not purely domestic use, these issues of capital control must be carefully considered,” Jung said.

South Korea is still leading a regime of control of foreign exchange under Devisline Transaction Actwith capital transactions subject to separate procedures, the doors of documentation for remittances abroad and restrictions on the sea use.

The government plans to demand from companies in the sector to apply and submit monthly reports to its central bank by the second half of 2025, according to 2024 report from Reuters.

For this purpose, “Krw Stablecoins not only means the issue of digital currencies, but also means that the Korean market legalizes digital property companies,” SEO said.

Cocoa claims Its network has an almost universal reach, with more than 95% of the population already using it to exchange messages, payments and online banking.

However, the key decisions on the Stabblecoins in the country remain on hold, which means that each initiation of cocoa or rivals will depend on the final licensing rules, reserve requirements, treatment of interest and role of banks in issuing.