PANews reported on August 6th that according to The Block , KakaoBank , the online-only bank under South Korean IT giant Kakao , CFO Kwon Tae-hoon stated at its semi-annual earnings conference that the bank is evaluating the issuance or custody of digital assets and is collaborating with the group's stablecoin working group to develop a presence in the Korean won stablecoin market. The bank has participated in the Bank of Korea's CBDC pilot program and has experience in Know Your Customer (KYC) and Anti-Money Laundering (AML) monitoring. Operating profit increased 11% to 353.2 billion won in the first half of the year, with deposits reaching 63.7 trillion won and approximately 25.86 million users.