South Korea's four major financial giants are collaborating with tech giants to seize control of the stablecoin market.

South Korea's four major financial giants—KB, Shinhan, Hana, and Woori—are accelerating their collaborations with Naver, Kakao, and Samsung to capture a share of the $41.1 billion stablecoin market. Banks are poised to become major issuers of Korean won stablecoins and are actively applying for trademarks, testing applications, and investing in digital assets.