Choi U-hyeong, president of Kbank, said, "Kbank will be the bank that benefits the most in the stablecoin market, which is expected to see explosive growth going forward."
Choi said at an IPO (initial public offering) press briefing at the Conrad Hotel in Yeongdeungpo District, Seoul, on the 5th, "Once legislation related to stablecoins is finalized, we will take the lead in a bank consortium and issue a stablecoin."
Discussions on institutionalizing stablecoins in Korea are underway, led by the ruling party. It is likely that the bill will stipulate that commercial banks hold a majority equity stake and take the lead in issuing stablecoins.
On this, Choi said, "I cannot disclose details, but we are currently in talks on stablecoins with several commercial banks."
Choi said, "If corporate investors' participation in the digital asset market gets into full swing, the market size will expand significantly," adding, "Kbank, already the most leading gateway to the digital asset market, will enjoy the biggest gains."
Kbank has faced criticism since its previous listing for having a high reliance on Upbit deposits from the virtual asset exchange. On this, Choi said, "Because Kbank's fundamentals, including its core deposit products, are solid, Upbit virtual asset deposits do not have a major impact on our performance."
He added, "If there were some concerns 4 to 5 years ago because the share of Upbit deposits was large, there is no significant impact at all now," and said, "Dunamu and Kbank also continue to have a mutually win-win relationship, and that good relationship will continue."