South Korean internet giant Kakao establishes stablecoin task force

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On August 5th, according to the Daily Economic News, South Korean internet giant Kakao established a stablecoin special task force. Kakao CEO Shina Chung, Kakao Pay CEO Shin Won-keun, and Kakao Bank CEO Yoon Ho-young will attend weekly meetings to discuss various situations and tasks related to the project.

Other subsidiaries, including Kakao Games, are expected to join in the future. Additionally, the company has established a working group involving grassroots employees from its subsidiaries to practically advance the proposed agenda.

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