Kakao Group is discussing a won-denominated stablecoin with Southeast Asian superapp Grab, including its issuance, circulation, related services and a regional expansion strategy. Grab already accepts KakaoPay as an overseas e-wallet payment method, creating a potential structure in which customers continue paying through KakaoPay while a won-denominated stablecoin supports back-end settlement. The group is also reviewing South Korea-Thailand digital asset business models with SCBX, including cross-border payments and remittances, while pursuing proof-of-concept work with Kyobo Life Insurance and anti-money laundering technology with Bonanza Factory. Its wider network includes Circle and Fireblocks, whose exploratory agreement with Kakao Pay and KakaoBank covers Korean digital asset infrastructure testing. No won-denominated stablecoin launch, issuer, blockchain, reserve structure or rollout date has been confirmed.