Kakao-backed Kaia plans to launch Korean won-pegged stablecoin

Odaily News Kaia, a Layer 1 blockchain supported by South Korean instant messaging giant Kakao, plans to launch a stablecoin anchored to the Korean won. It is reported that launching a stablecoin based on the Korean won is also one of the encryption goals proposed by South Korean President Lee Jae-myung during his campaign. Kaia will focus on the domestic market in South Korea and pay attention to the Korean won stablecoin with an increasingly improved regulatory environment. (Cointelegraph)