E-commerce giant Coupang begins building a legal team for stablecoin

Coupang Pay, the fintech division of South Korean e-commerce giant Coupang, is expanding its legal team to advance its ambitions in the stablecoin sector. The company has posted two legal positions: one for a junior lawyer and another for a senior legal advisor, focusing on fintech payments, stablecoin regulations, and global payment partnerships. These roles will evaluate the business model for issuing and distributing stablecoins and collaborate with regulators such as the Financial Intelligence Unit and the Financial Services Commission of Korea.

Coupang's legal team is positioned as a strategic department, involved in designing new business models while ensuring regulatory compliance. This move comes as South Korea is discussing a legal framework for stablecoins pegged to the won. Coupang has also participated in stablecoin infrastructure through Tempo blockchain developed by Stripe. With annual revenue of approximately $33 billion, stablecoins could significantly reduce transaction fees and international money transfer costs for the company.