Kakao | Crypto

Kakao Pay and KakaoBank are exploring digital asset opportunities with Fireblocks, including infrastructure for stablecoins. South Korean financial companies Kakao Pay and KakaoBank have signed a memorandum of understanding (MoU) with crypto infrastructure provider Fireblocks to explore digital asset opportunities, including stablecoins.  Under the agreement, the companies will conduct proof-of-concept tests for digital asset infrastructure suited to South Korea’s regulatory, security and service requirements. The initiative aims to help establish secure onchain infrastructure for the country’s emerging digital asset market.  The announcement on Monday did not include a launch, investment or implementation timeline.  Read more

Kakao Group and Circle signed an MOU to explore won stablecoin payments, remittances, merchant settlement and tokenized financial services. Kakao Group has partnered with stablecoin issuer Circle to explore payment infrastructure for won-backed stablecoins as South Korea prepares a broader regulatory framework for crypto assets.  On Thursday, the companies announced that Kakao, Kakao Pay and Kakao Bank had signed a strategic memorandum of understanding (MOU) with Circle Internet Group. Under the agreement, the companies will explore ways to connect Circle’s blockchain and global payment infrastructure with Kakao’s consumer platforms and financial services. The agreement highlights how major South Korean consumer and financial platforms are positioning themselves ahead of expected stablecoin legislation, even before the regulatory framework is finalized.  Read more

Viral footage of a YouTuber’s crypto scam hub expose stunt in the Philippines notches 2.7M views, Kakao uncovers 70K scam apps. Asia Express. The Philippines’ Cybercrime Investigation and Coordinating Center (CICC) has launched an official investigation into a suspected scam operation based in the island city of Cebu, following a viral expos by YouTube content creator mrwn. In a 23-minute video that has garnered over 2.7 million views on YouTube and is spreading rapidly across social media, mrwn reveals how he hacked into the scam centers computers and CCTV system, exposing what appears to be a fraud ring operating out of a call center-style office. According to mrwn, the operation is estimated to earn $800,000 annually, with agents defrauding victims overseas through various methods, including stealing credit card data and coercing victims to transfer cryptocurrency via Bitcoin ATMs. Read more