Kakao Bank of South Korea advances its stablecoin project to the development stage.

Kakao Bank, the digital banking arm of South Korean IT giant Kakao, has moved its stablecoin project pegged to the Korean won into the actual development stage. Its website shows that it is recruiting backend developers for blockchain services, with key requirements including: in-depth understanding of smart contracts, familiarity with token standards, and experience in transaction management and full node operation.