--- title: "Kakao Banking And Payments Group With Fireblocks To Test Secure Onchain Infrastructure In South Korea" type: "News" locale: "en" url: "https://longbridge.com/en/news/299742117.md" description: "Kakao Pay and KakaoBank have signed an MoU with Fireblocks to test secure on-chain digital asset infrastructure in South Korea. The partnership aims to explore stablecoin distribution frameworks compliant with local regulatory and security requirements through proof-of-concept tests. This initiative is part of Kakao Group's broader efforts, including a separate collaboration with Circle, to develop accessible digital asset services for its customers." datetime: "2026-09-22T09:12:58.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/299742117.md) - [en](https://longbridge.com/en/news/299742117.md) - [zh-HK](https://longbridge.com/zh-HK/news/299742117.md) generator: "portal-rs" --- # Kakao Banking And Payments Group With Fireblocks To Test Secure Onchain Infrastructure In South Korea South Korea’s growing interest in stablecoins is bringing banking and payments closer to the digital asset sector, with Kakao Pay and KakaoBank now working with Fireblocks to test infrastructure for potential local use. The companies have signed a memorandum of understanding (MoU) to explore digital asset opportunities, including stablecoins, as South Korea continues to develop rules and infrastructure for the sector. > Fireblocks has signed an MoU with Kakao Pay and Kakao Bank to build digital asset infrastructure for Korea. > > The three companies will explore stablecoin distribution frameworks suited to Korea's regulatory and security requirements, then run proof-of-concept tests to validate… pic.twitter.com/w6eb4gqsvx > > — Fireblocks (@FireblocksHQ) September 22, 2026 ## Kakao Tests Digital Asset Infrastructure For Korea The partnership will focus on proof-of-concept tests for digital asset infrastructure designed around South Korea’s regulatory, security and service requirements. The companies will also examine digital asset distribution frameworks and how secure on-chain systems could support the country’s emerging market. The agreement remains exploratory, with no commercial launch, investment commitment, specific stablecoin product or deployment timetable announced. Kakao Pay operates mobile payments and financial services, while KakaoBank is one of South Korea’s largest internet-only banks. Both companies are part of the wider Kakao ecosystem and are involved in Kakao Group’s work on stablecoins. Fireblocks, which provides infrastructure for institutional digital asset activity, said its platform is used by more than 2,500 institutions worldwide, including more than 100 banks. > STABLECOINS 🇰🇷 | One of South Korea’s Largest NeoBanks Exploring Stablecoin Infrastructure > > The partnership brings together #KakaoPay's payments network, #KakaoBank's banking operations and Fireblocks' institutional digital-asset infrastructure. @FireblocksHQ says its… pic.twitter.com/1BQ4w5z5OR > > — BitKE (@BitcoinKE) September 22, 2026 The company also says its infrastructure has supported $16 trillion in digital asset transactions across more than 200 blockchains. ## Why Are Kakao’s Banking And Payment Units Working Together? The partnership brings Kakao’s payments and banking businesses into the same digital asset infrastructure project, rather than testing stablecoin applications through a single financial service. KakaoBank chief executive Yun Ho-young and Kakao Pay chief executive Shin Won-keun are co-heads of Kakao Group’s Stablecoin Task Force. Yun Ho-young said the companies would combine their technology and expertise to develop services that could give customers greater access to digital assets. > "We are pleased to collaborate with Fireblocks, the global leader in digital asset infrastructure. By combining our technology and expertise, we will develop secure and accessible digital asset services that expand our customers' financial opportunities." Shin Won-keun said reliable distribution infrastructure would be important as South Korea’s digital asset market develops. > "The success of Korea's emerging digital asset market depends on the reliable flow of digital asset distribution. Our strategic alliance with Fireblocks, a leading global infrastructure provider, lays an important foundation for that." ## Stablecoins Form Part Of The Initial Testing Stablecoins are one of the main areas being examined under the agreement, although the companies have not disclosed how a potential token would be structured. There is currently no confirmed blockchain, token standard, reserve model, custody arrangement or consumer rollout plan under the MoU. > 🚀 Kakao Pay + KakaoBank just teamed with Fireblocks to build digital asset infrastructure, eyeing stablecoins for South Korea’s market. > > 🔐 Secure custody + regulated rails could be a big deal for on-chain payments. #Bitcoin#Stablecoin#KakaoBankpic.twitter.com/8UpfCty1k3 > > — CryptoDore (@cryptodore) September 22, 2026 Instead, the proof-of-concept work will allow the companies to test whether digital asset infrastructure can operate within South Korea’s regulatory and security requirements before any wider deployment is considered. Fireblocks chief executive and co-founder Michael Shaulov said institutional-grade infrastructure would be needed if banks and payment companies expand their digital asset activities. > "For banks and payment platforms in Korea, leveraging reliable digital asset infrastructure that is engineered to meet institutional requirements from day one is critically important. This is the prerequisite for widespread adoption, and Kakao Pay and Kakao Bank are setting the groundwork now." ## Kakao Expands Its Stablecoin Partnerships The Fireblocks agreement follows a separate MoU between Kakao Group and stablecoin issuer Circle. The two companies agreed in July to explore blockchain-based payment infrastructure and digital asset technologies, including opportunities involving Korean won-denominated stablecoins and related services. > Circle 🤝 Kakao Group > > Circle and Kakao Group have signed an MOU to explore blockchain-based payment infrastructure and digital asset technologies in Korea. > > Together, we’ll assess opportunities for USDC and Circle’s global payment rails across payments, settlement, and digital… pic.twitter.com/MmZRd19iIH > > — Circle (@circle) July 23, 2026 The latest agreement gives Kakao another infrastructure-focused collaboration as South Korean banks and technology companies examine possible uses for stablecoins in payments, transfers and settlement. Other financial groups are also testing similar ideas. KB Financial Group completed a won-denominated stablecoin pilot in May covering issuance, offline merchant payments and cross-border remittances. In July, fintech company Toss partnered with Optimism and Sunnyside Labs on a proof of concept for won-based stablecoin payment infrastructure. For Kakao Pay, KakaoBank and Fireblocks, the immediate task is to test how digital asset systems could fit into South Korea’s existing financial environment. 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