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KakaoPay Stock Price Surges Over 200% in a Month, Market Buzzes with Stablecoin Patent Layout
Summary: According to The Block, South Korean payment giant KakaoPay's stock price has surged over 200% in the past month, mainly driven by expectations in the stablecoin sector. Based on Google Finance data, the company's stock price has risen from 30,800 Korean won (about $22.25) on May 23 to the current 94,700 Korean won (about $68.6), ...
According to The Block, South Korean payment giant KakaoPay's stock price has surged over 200% in the past month, mainly driven by expectations in the stablecoin sector. Based on Google Finance data, the company's stock price has risen from 30,800 Korean won (about $22.25) on May 23 to the current 94,700 Korean won (about $68.6), with a 17.3% increase in early trading on Monday.
Reports indicate that KakaoPay has filed six stablecoin-related patent applications, including PKRW, KKRW, KRWP, covering services such as encrypted transfers, brokerage, electronic payments, and token issuance. The newly elected South Korean President Lee Jae-myung has pledged to collaborate with the private sector to issue a Korean won stablecoin, further boosting market expectations.
According to ZDNET Korea, KakaoPay stated that the patent applications are aimed at preparing for potential regulatory changes and will continue to monitor policy developments.
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Link: KakaoPay Stock Price Surges Over 200% in a Month, Market Buzzes with Stablecoin Patent Layout [Copy]
