Kakao Group is expanding partnerships with Southeast Asian superapp Grab, Thai financial group SCBX and South Korea’s Kyobo Life Insurance as it prepares to build a won-based stablecoin ecosystem. The group, which includes Kakao, KakaoBank and Kakao Pay, said on Wednesday it aims to establish a value chain covering stablecoin issuance, distribution, payment and transfer once South Korea introduces a regulatory framework.