South Korean internet giant Kakao has established a stablecoin special working group.

On August 5, according to the Daily Economic News, South Korean internet giant Kakao established a special task force for stablecoins. Kakao CEO Shina Chung, Kakao Pay CEO Shin Won-keun, and Kakao Bank CEO Yoon Ho-young will attend weekly meetings to discuss various situations and tasks related to the projects. Other subsidiaries, including Kakao Games, are expected to join in the future. In addition, a task force involving grassroots employees from subsidiaries has also been established to actively promote the proposed agenda.

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