Kakao Partners with Fireblocks to Build Digital Asset Infrastructure in Korea

Kakao Pay and Kakao Bank have partnered with Fireblocks to develop institutional-grade digital asset infrastructure in Korea. The three companies aim to assess digital asset distribution frameworks that meet Korea's regulatory, security, and service requirements.

According to the announcement, the partnership will focus on stablecoins, with an initial emphasis on building a secure and accessible ecosystem for customers. Kakao Bank CEO Yun Ho-young stated that the companies would 'develop secure and accessible digital asset services that expand our customers' financial opportunities.'

Fireblocks has already deployed infrastructure for over 2,500 institutions, including more than 100 banks, with $16 trillion in digital asset transactions across over 200 blockchains. CEO Michael Shaulov emphasized the importance of reliable infrastructure meeting institutional requirements 'from day one' for widespread adoption.

Kakao's partnership with Fireblocks is part of a broader effort to establish won-stablecoin infrastructure, as competition among Korean financial institutions intensifies ahead of Korea's security token regulatory framework taking effect on February 4, 2027.