KakaoPay's stock price rose over 200% this month, and the stablecoin patent layout has sparked market discussions.

According to ChainCatcher news and a report by The Block, South Korean payment giant KakaoPay's stock price has soared over 200% in the past month, mainly benefiting from heightened expectations of its entry into the stablecoin sector. According to Google Finance data, the company's stock price has risen from 30,800 won (approximately $22.25) on May 23 to the current 94,700 won (approximately $68.6), and it rose 17.3% in early trading on Monday. According to reports, KakaoPay has submitted six patent applications related to stablecoins, including PKRW, KKRW, KRWP, etc., covering areas such as cryptocurrency transfer, brokerage, electronic payments, and token issuance. Previously, the newly elected South Korean President Lee Jae-myung pledged to promote the issuance of a won stablecoin in collaboration with the private sector, further boosting market expectations. According to a report by Korean media ZDNET Korea, KakaoPay stated that the patent application aims to prepare for potential regulatory changes and will continue to monitor policy developments.