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Kakao, Toss, Circle Explore Stablecoin Infrastructure
South Korea's Kakao Group and Toss (Toss Bank) have signed MOUs with Circle Internet Group to develop digital asset infrastructure and KRW-based stablecoins, aiming to connect Circle's global payment networks with Kakao's platform and Toss's fintech ecosystem. The collaborations seek opportunities across stablecoins, tokenized financial services, biometric payments, and interoperable settlement, aligning with evolving domestic regulation.
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Circle Internet Group, Inc. is a payments technology company. Founded by Jeremy Allaire and Sean Neville in 2013, it is currently headquartered in New York City and issues two types of stablecoin: USDC, which has a conversion rate pegged to the U.S. dollar, and EURC, which is euro-denominated. It also issues USYC, a tokenized money market fund.

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