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KakaoBank to expand into Mongolia, issue stablecoins, integrate AI into services

Published: 08 Apr. 2026, 14:46 Updated: 08 Apr. 2026, 15:25

JIN MIN-JI
[email protected]

KakaoBank CEO Yun Ho-young speaks on the internet-only bank’s strategic plans on AI push and global expansion during a press conference held in Yeouido, western Seoul, on April 8. [KAKAOBANK]

KakaoBank will expand its global footprint into Mongolia as its third overseas market and will aggressively integrate AI into its services to enhance convenience and personalization, the internet-only bank said on Wednesday.

KakaoBank plans to share its expertise with Mongolian financial institutions, including its credit-scoring system that leverages nonfinancial data.

“Our entry into Mongolia is meaningful in that it exports our capabilities in inclusive finance to the global stage,” said KakaoBank CEO Yun Ho-young, during a press conference held in Yeouido, western Seoul.

“We will transplant our alternative credit valuation model — the driving force behind our ability to extend the largest volume of loans to low and mid-credit borrowers among banks — to local financial institutions in Mongolia,” he added.

Mongolia will be its third overseas expansion after Indonesia and Thailand.

KakaoBank plans to launch BankX — its online-only joint venture with local Thai SCBX Group — in the first half of next year. Indonesia-based Superbank — KakaoBank’s first overseas investment — went public in the local market late last year.

“We will use our achievements in Indonesia, Thailand and Mongolia as a springboard to accelerate our full-scale expansion into global markets,” Yun added.

KakaoBank said it will also broaden its services for foreign residents in Korea and incoming foreigners by offering real-time, AI-powered translation, while positioning itself as a “global connector” by issuing and distributing won-backed stablecoins once relevant legislation is enacted.

The bank announced the same day its push for AI-driven innovation in the financial sector by integrating AI across its products and services.

Beyond basic functions like search and calculations, it has applied AI technology to financial services such as transfers and group accounts, noting that as apps gain more features, users face the paradox of finding it increasingly difficult to locate what they need.

The bank plans to introduce services in which AI proactively identifies and resolves complex financial problems for customers. Specifically, in the third quarter, it will launch a feature that provides tailored financial guidance based on customers’ payment data, offering an AI-managed spending experience. An AI-powered investment agent will also be applied to the bank’s investment tab to assist customers with their investment activities.

BY JIN MIN-JI [[email protected]]