Kakao Pay is showing a sharp rise in the early trading of the 25th, when the trading suspension was lifted. Kakao Pay's stock surged due to expectations surrounding the introduction of a won stablecoin, which led to a trading halt on the 24th due to overheating.
As of 9:15 a.m. on this day, Kakao Pay is trading at 106,200 won, up 14,300 won (15.43%) from the previous trading day.
Kakao Pay is considered a beneficiary stock of stablecoins, drawing attention from the securities industry. Although Kakao Pay has yet to announce specific plans for the stablecoin business, it is expected to respond swiftly when detailed policy directions are released, given its involvement in my data services and Central Bank Digital Currency (CBDC) development.
Yoon Yoo-dong, a researcher at NH Investment & Securities, analyzed that "as a leading fintech company in the country, there is a high possibility of reviewing its business in various aspects, including issuing and distributing stablecoins."
As expectations related to stablecoins grow, Kakao Pay's stock price is also rising rapidly. The stock price, which had lingered between 50,000 to 60,000 won in mid-month, has recently surpassed 100,000 won, showing a steep upward trend.