On the 26th, Kakao Pay jumped more than 8% in early trading. The move was seen as driven by expectations after demand for stablecoins was confirmed in the United States.
As of 9:27 a.m. on the 26th, Kakao Pay was trading at 69,500 won on the Korea Exchange, up 5,400 won (8.42%) from the previous session.
Overnight, Circle (CRCL), a "stablecoin-related stock," said its results improved as the circulation of stablecoins expanded. Circle said the circulation of its fourth-quarter stablecoin USDC rose 72% year over year to $75.3 billion. Earnings per share (EPS) came in at $0.43, beating the market expectation of $0.16.
As a result, Circle's share price finished at $83.14 on the New York stock market, up $21.77 (35.47%).
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