Kakao, Toss Partner with Circle on Won-Based Stablecoin Infrastructure

Kakao and Toss, two of South Korea's leading tech giants, have partnered with Circle to develop won-based stablecoin infrastructure.

The partnerships aim to integrate blockchain-based payment infrastructure, exploring the viability of won-based (KRW) stablecoins and digital asset linkages that can connect tens of millions of active users to the global cryptocurrency ecosystem.

Kakao Group is assessing the feasibility of using USDC for instant, low-cost settlements, while Toss is testing biometric authentication systems with stablecoin-based financial services.