Kakao, Circle Join Forces on South Korean Digital Asset Infrastructure

Circle Internet Group issues USDC, a dollar-backed stablecoin increasingly used to settle blockchain-based payments and connect public networks with conventional finance. USDC had about $73.1 billion in circulation as of July 20, 2026. For Kakao, which combines the KakaoTalk platform with Kakao Pay and KakaoBank, the partnership offers a route to link a large consumer ecosystem with onchain settlement while positioning the group for a regulated won-denominated stablecoin market.

Kakao, Kakao Pay and KakaoBank signed a strategic memorandum of understanding with Circle at Kakao Pay’s Pangyo office on July 22, announcing the agreement on July 23. The companies will assess won-linked digital assets, tokenized financial services and uses of Circle’s infrastructure for cross-border payments, overseas remittances and merchant settlement. They will also study interoperability between public blockchains and existing banking rails. The agreement remains exploratory, with no product specifications, investment amount or launch timetable disclosed.