Kakao Pay is actively shaping the KRW stablecoin market as cryptocurrency volatility rises due to global economic factors.
Kakao Pay Files Trademarks
South Korea's Kakao Pay has filed 18 trademark applications related to KRW stablecoins (e.g., KRWKP, KRWP) with the Korean Intellectual Property Office. The trademarks cover virtual asset trading, electronic transfers, and financial services. This move is viewed as proactive ahead of the upcoming "Digital Asset Basic Law" that will legalize privately issued KRW stablecoins. Competitors like gaming company Nexthurs are also seeking first-mover licenses, indicating heightened competition in the local stablecoin market.
Geopolitical Tensions Impact Crypto Market
Growing geopolitical tensions surrounding Iran's threat to block the Strait of Hormuz have triggered a market sell-off. Bitcoin briefly dipped below $100,000, marking a new low for May, while Ethereum and XRP also fell sharply. The strait is a vital oil route, accounting for ~20% of global oil transport, and any disruption could escalate energy prices and inflation expectations. This sell-off highlights the vulnerability of the crypto market to geopolitical shocks. Despite narratives of Bitcoin as "digital gold," major tokens still react like high-risk assets.
Investment Flows into Ecosystems
On-chain data reveals that in the past week, the top three cross-chain bridge net inflows were: Base: +$35.92M, Unichain: +$15.04M, Hyperliquid: +$8.75M. In contrast, the largest outflows were seen from Bera (–$58.51M), Avalanche (–$51.44M), and Mantle (–$15.46M). These flows underscore growing investor confidence in select chains. Base benefits from Coinbase’s backing and strong L2 performance. Unichain’s deep integration with DeFi protocols like Uniswap is driving momentum, while Hyperliquid is gaining traction in the on-chain derivatives sector due to its native order-matching model.
These events highlight the dynamic nature of the crypto market and the importance of monitoring regulatory changes and global economic factors to assess future trends.
