{"id":40329,"date":"2025-08-04T13:16:58","date_gmt":"2025-08-04T13:16:58","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=40329"},"modified":"2025-08-04T13:16:58","modified_gmt":"2025-08-04T13:16:58","slug":"south-korean-banks-race-to-launch-crypto-services-before-regulatory-changes","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=40329","title":{"rendered":"South Korean Banks Race To Launch Crypto Services Before Regulatory Changes"},"content":{"rendered":"<div>\n<p>South Korean crypto season is officially underway! Some of South Korea\u2019s largest lenders are set to launch their crypto and stablecoin-related services as the date for regulatory changes approaches.<\/p>\n<p>According to a local media article <a class=\"general-link\" href=\"https:\/\/www.mk.co.kr\/news\/economy\/11383942\" target=\"_blank\" rel=\"noopener nofollow\">published <\/a>on 3 August 2025, several banks in South Korea are in the process of creating dedicated organisations in preparation for the upcoming legislation that will enable them to issue and operate stablecoins.<\/p>\n<p>Furthermore, the publication mentions that banks are looking to form a <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/south-korean-banks-unite-on-won-backed-stablecoin-initiative\/\" target=\"_blank\" rel=\"noopener\">consortium <\/a>to quickly enter the crypto space in South Korea.<\/p>\n<p>Major South Korean banks such as Woori and Shinhan had initially formulated their plans to enter the crypto space as early as 2018-2019. However, former President Moon Jae-in and his administration decided to ultimately ban initial coin offerings, thereby forcing Woori and Shinhan to shelve their plans.<\/p>\n<p>The current administration, however, under President Lee Jae-myung, is pro crypto, and as such, multiple committees within the National Assembly are reviewing a comprehensive suite of <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/south-koreas-new-president-moves-to-legalize-stablecoins-through-crypto-bill\/\" target=\"_blank\" rel=\"noopener\">pro-industry reforms<\/a> designed to stimulate growth and sort out regulatory ambiguity.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f9f5.png\" alt=\"\ud83e\uddf5\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> Thread: South Korea\u2019s banks &amp; the crypto pivot <br \/><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/16.0.1\/72x72\/1f1f0-1f1f7.png\" alt=\"\ud83c\uddf0\ud83c\uddf7\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> Big lenders are mobilizing for upcoming stable-coin laws. \u201cAs discussions on legalizing stablecoins heat up rapidly, the banking sector is now taking proactive measures.\u201d <a href=\"https:\/\/t.co\/PtLxmhsYIJ\" rel=\"nofollow\" target=\"_blank\">https:\/\/t.co\/PtLxmhsYIJ<\/a> (1\/5)<\/p>\n<p>\u2014 Kris Townsend (@kristownsendd) <a href=\"https:\/\/twitter.com\/kristownsendd\/status\/1952176283489882285?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">August 4, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Banks tasting blood in the water are closing in fast to take advantage of the situation. For instance, Woori has launched a specialised Digital Asset Team that oversees initiatives ranging from stablecoin development to the rollout of digital wallet services.<\/p>\n<p>This newly formed nine-member team is a part of Woori\u2019s New Business Alliance Platform Department.<\/p>\n<p>Additionally, the bank has also signed a partnership agreement with a blockchain startup to revive its crypto custody ambitions. The publication mentions that Woori has also partnered with several unnamed entities to build a stablecoin consortium.<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\" target=\"_blank\" rel=\"noopener\">10+ Crypto Tokens That Can Hit 1000x in 2025<\/a><\/p>\n<h2><strong>KB Kookmin Bank Joins South Korean Crypto Fray<\/strong><\/h2>\n<p>While Woori Bank has somewhat of an early lead, KB Kookmin isn\u2019t resting on its laurels. The bank formed a Digital Asset Response Council in June of this year as an initiative to drive a cohesive, group-wide strategy across its KB Financial Group affiliates.<\/p>\n<p>Since then, the council has prepared for potential policy shifts by drafting a series of rapid response scenarios and is currently exploring partnerships with external players such as insurance firms, credit card issuers, securities companies and asset managers.<\/p>\n<p>The council aims to strengthen strategic alignment in the crypto space across the KB ecosystem.<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\" target=\"_blank\" rel=\"noopener\">Best New Cryptocurrencies to Invest in 2025<\/a><\/p>\n<h2><strong>KEB Hana Forms Working Group To Tackle Issues Around Won-Pegged Stablecoins<\/strong><\/h2>\n<p>Another major South Korean bank, KEB Hana Bank, has formed a working group, pulling in talent from key departments to tackle issues around won-pegged stablecoins. This working group is to lay down the groundwork for future digital infrastructure projects.<\/p>\n<p>KEB Hana has copied a bit of Woori\u2019s homework in developing a joint venture crypto custody initiative, eyeing international expansion.<\/p>\n<p>Meanwhile, Shinhan Bank has assembled a crypto task force made up of 20 employees.<\/p>\n<p><a class=\"general-link\" href=\"https:\/\/www.trade.gov\/market-intelligence\/south-korea-digital-assets-market\" target=\"_blank\" rel=\"noopener nofollow\">Other banks<\/a> in the country, including the Upbit partner K Bank and Busan Bank, are also on war footing to prepare for the reforms.<\/p>\n<p>In the backdrop of all this, the trademark race is in full swing with KB applying for 32 marks tied to won-backed stablecoins and 49 more linked to foreign currency pegged tokens.<\/p>\n<p>The publication adds, \u201cif stablecoins are legalised, financial firms need to quickly launch related services to secure a lead in the market.\u201d<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/high-risk-high-reward-crypto\/\" target=\"_blank\" rel=\"noopener\">9+ Best High-Risk, High-Reward Crypto to Buy in August 2025<\/a><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        South Korean banks accelerate crypto initiatives amid the region\u2019s regulatory reform momentum    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Woori Bank, KB Kookmin Bank and KEB Hana are currently leading the charge    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        KB Kookmin has filed 32 trademarks for won-backed stablecoins and 49 for foreign currency pegged tokens    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/altcoins\/south-korean-banks-race-to-launch-crypto-services-before-regulatory-changes\/\">South Korean Banks Race To Launch Crypto Services Before Regulatory Changes<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>South Korean crypto season is officially underway! Some of South Korea\u2019s largest lenders are set to launch their crypto and stablecoin-related services as the date for regulatory changes approaches. According to a local media article published on 3 August 2025, several banks in South Korea are in the process of creating dedicated organisations in preparation [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-40329","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/40329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40329"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/40329\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}