Partnership to develop e-wallet infrastructure and multi-faceted financial services including investment and remittance

[Provided by Korea Investment & Securities]
[Provided by Korea Investment & Securities]

Korea Investment & Securities announced Thursday that it has signed a strategic MOU with Kakao Group to jointly develop services related to digital asset issuance and retail distribution.

Under the agreement, Korea Investment & Securities will build a broad financial services cooperation framework with Kakao Group — comprising Kakao, Kakao Bank and Kakao Pay — spanning the full range of digital asset operations.

The MOU covers four areas: developing concrete plans for digital asset utilization; providing financial services — including investment, remittance and settlement — through digital asset platforms; building core infrastructure such as electronic wallets; and cooperating on digital asset custody and customer-facing digital asset service integration.

The two sides plan to generate synergies by combining Korea Investment & Securities' asset management capabilities with Kakao Group's platform strengths. Korea Investment & Securities had earlier been exploring synergy models with Kakao Bank in digital asset businesses, including e-wallet development, stablecoins and STO distribution. The MOU will serve as a springboard to extend that cooperation to other Kakao affiliates.

"This partnership will be an opportunity to explore new possibilities in digital asset-based financial services by combining Korea Investment & Securities' financial expertise with Kakao Group's platform dominance," Korea Investment & Securities President Kim Sung-hwan said. "We will continue to work closely together to lead changes in the digital asset market and strive to offer customers an even more differentiated financial service."

Yun Ho-young, chief executive of Kakao Bank and co-head of Kakao Group's stablecoin joint TF, said the two companies would "expand the scope of cooperation beyond digital asset issuance and distribution service linkages to cover the broader digital asset infrastructure." He added that they would "combine the capabilities of both sides to explore diverse possibilities for digital asset utilization and build a cooperation model that delivers real value to customers."

Korea Investment & Securities has been broadening its partnerships with domestic and overseas firms. Last month, it signed separate MOUs with global asset manager Fidelity International, global bond specialist Pimco and private equity fund manager Carlyle. The firm said it aims to strengthen a global business model that goes beyond simply importing the expertise of global financial institutions, connecting it instead to actual customer touchpoints across products, research and asset management.


jiyun@heraldcorp.com