PANews reported on November 26th that, according to Decrypt, KakaoBank, the digital bank under South Korean IT giant Kakao, is accelerating the development of a technical system to support the KRW stablecoin and tokenized assets, covering smart contract execution, token standards, full nodes, and issuance management backends. Its blockchain partner, Kaia, submitted trademarks for at least four Korean won-pegged stablecoins in August. Kaia Foundation Chairman Sam Seo stated that they are in communication with multiple parties regarding a proof-of-concept (POC) for the KRW stablecoin, but details are not being disclosed due to confidentiality.