KakaoPay Shares Skyrocket 208% as Stablecoin Hopes Rise

- KakaoPay’s shares surged over 200% in the past month. - Government support and patent filings drive investor excitement. KakaoPay, South Korea's leading mobile payment giant, saw its share price surge dramatically by 208% over the past month as investors anticipate the company's entry into the stablecoin market. On June 22, 2025, The Block reported that KakaoPay’s stock rose. According to data from Google Finance on June 22, 2025, the price had increased to 94,700 won ($68.60) from 30,800 won ($22.25) on May 23, 2025. Additionally, its stock price jumped by a significant 17.3% during local market trading on the Monday morning before this article's publication. Proclamations from newly elected South Korean President Lee Jae Myung also contributed to this stock value surge, as President Lee has pledged to approve and promote local currency-backed stablecoins with private sector support. Further bolstering market confidence, a South Korean lawmaker proposed legislation earlier this June aimed at expediting the approval process for Korean won stablecoins. KakaoPay further intensified anticipation by filing applications for six stablecoin-related patents the week before this article's publication. These patents utilize the ticker symbols PKRW, KKRW, KRWP, KPKRW, KRWKP, and KRWK, which are believed to combine the names Kakao or KakaoPay with the Korean won. The scope of these patents spans electronics and also covers financial services, including cryptocurrency transfers, brokerages, electronic currency payments, token issuance, and IT development. On June 20, 2025, ZDNET Korea reported that KakaoPay stated these filings serve as a preemptive measure in response to imminent stablecoin regulations. Supporting KakaoPay's prospective benefits from stablecoin developments, a report by Eugene Investment and Securities, published on June 19, 2025, identified KakaoPay as a primary beneficiary. The report cited the company's adaptable business model and significant advance payment balances, which total approximately $429 million. According to CoinMarketCap data on June 22, 2025, at 12:00 UTC, Ethereum (ETH) was trading at $3,214, and its 24-hour trading volume had increased by 2.3%.