Retail investors in South Korea have invested nearly $450 million in Circle stocks this month.

PANews, June 27 - According to CoinDesk, Circle Internet Group (CRCL) has become the most sought-after overseas stock among South Korean retail investors in June, with a total purchase amount reaching $450 million. The company's stock price has risen over 500% since its listing on June 5, and its market capitalization once exceeded $77 billion, surpassing the total market capitalization of its issued stablecoin USDC ($61 billion). This phenomenon stems from South Korean President Yoon Suk-yeol accelerating the legalization reform of the Korean won stablecoin, while local fintech company KakaoPay saw its stock price rise by 160% during the same period.