Kakao Group Announces MoU with Fireblocks to Explore Digital Asset Opportunities in Korea

• Kakao Pay and Kakao Bank sign an MoU with global infrastructure leader Fireblocks to lay the groundwork for a digital asset ecosystem in Korea

• The companies will jointly explore Korean market opportunities in digital assets, including stablecoins

• The initiative aims to assess solutions suited to local regulatory, security, and service requirements

Kakao Pay and Kakao Bank have signed a memorandum of understanding with Fireblocks to explore secure digital asset infrastructure in Korea.

The agreement is intended to help establish secure onchain infrastructure for Korea’s emerging digital asset market and strengthen its early ecosystem. This initiative leverages Kakao’s nationwide reach, expertise across fintech and banking, and core blockchain technology. The companies expect their collaboration with Fireblocks—which has deployed digital asset infrastructure for over 2,500 global institutions including more than 100 banks—to accelerate that effort.

Under the agreement, the three companies will jointly explore business opportunities based on Korea’s market conditions and infrastructure demand. With a focus on stablecoins, they will explore digital asset distribution frameworks suited to Korea’s regulatory, security, and service requirements. They also plan to conduct proof-of-concept (PoC) tests to assess the applicability of these frameworks, as part of a shared effort to build the digital asset ecosystem.

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“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,” said Michael Shaulov, CEO and Co-Founder of Fireblocks. “This is the prerequisite for widespread adoption, and Kakao Pay and Kakao Bank are setting the groundwork now.”

“We are pleased to collaborate with Fireblocks, the global leader in digital asset infrastructure,” said Yun Ho-young, CEO of Kakao Bank and Co-Head of Kakao Group’s Stablecoin Task Force. “By combining our technology and expertise, we will develop secure and accessible digital asset services that expand our customers’ financial opportunities.”

“The success of Korea’s emerging digital asset market depends on the reliable flow of digital asset distribution,” said Shin Won-keun, CEO of Kakao Pay and Co-Head of Kakao Group’s Stablecoin Task Force. “Our strategic alliance with Fireblocks, a leading global infrastructure provider, lays an important foundation for that.”