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Finance

KakaoBank debit card cumulative payments top 154.9 trillion won as it expands payment services

KakaoBank said cumulative payments made with its debit cards have exceeded 154.9 trillion won since the cards were launched in July 2017 through the first half of this year. The company plans to broaden usage areas and expand payments into a core financial service. It also plans to launch new debit cards, including foreign-currency account-linked and foreign-resident-only cards, and will review applying new payment technologies such as stablecoins and CBDCs.

Crypto

Won stablecoin pilots enter proof stage as industry tie-ups accelerate

Partnerships among banks, fintechs, platforms and blockchain firms around won-denominated stablecoins are accelerating in the second half, with payment and settlement use cases moving into more concrete pilot tests. Companies are running proofs of concept on real-time settlement, on-chain payment flows and links between digital wallets and existing card networks. Cross-border remittances are also emerging as a key testing area. Debate continues over regulation, including issuers, reserve assets and approval requirements.

Finance

KakaoBank to cancel 51% of treasury shares, use remainder for employee compensation

KakaoBank will cancel 270,000 of its treasury shares, or about half of the total it holds, within the legal deadline to enhance shareholder value, it said on Aug. 17. As of June 30, the company held 532,334 treasury shares, with the planned cancellation accounting for about 51 percent. The remaining 262,334 shares will be used for employee compensation. KakaoBank plans to seek shareholder approval in 2027 for a detailed holding and disposal plan.