According to Foresight News, South Korea's internet bank, K Bank, announced on June 13, 2025, its membership in the Open Blockchain and DID Association (OBDIA) to prepare for the upcoming stablecoin era and engage in related technological cooperation and institutional research.
OBDIA, established in 2018 with approval from the Ministry of Science and ICT of South Korea, includes members from various sectors such as banks, corporations, and startups. In April, the association formed a 'Stablecoin Subcommittee' with participation from major financial institutions like KB Kookmin Bank, Shinhan Bank, NH Nonghyup Bank, and IBK Industrial Bank. This subcommittee focuses on institutionalization and applicability research.
The association plans to promote the deployment of blockchain business within the banking system following the enactment of stablecoin legislation. K Bank has expressed its commitment to collaborate with other banks to validate the applicability of stablecoins within South Korea's financial system and to engage in technological cooperation.