KakaoPay's shares have significantly increased over the past month, related to expectations of stablecoin development in South Korea, supported by President Lee Jae-myung.
KakaoPay's Stock Surge
Shares of **KakaoPay**, a leader in South Korea's payment sector, surged by **208%** amid speculation around Korean won stablecoins. This growth is attributed to **President Lee Jae-myung's** support for stablecoin implementation.
Impact on Other Kakao Companies
The significant stock surge influenced other companies within the **Kakao** group. **Kakao Bank** and **Kakao Games** also witnessed considerable market gains. However, **JP Morgan** expresses concerns about these developments potentially outpacing fundamental indicators.
Potential Stablecoin Impact
Potential stablecoins, based on the **Korean won**, have yet to be realized and are awaiting regulatory clearance. This anticipation has not significantly shifted on-chain crypto assets. Analysis suggests that possible regulatory changes could spark market interest in government-backed digital currencies.
While KakaoPay shares have risen sharply, it is essential to consider analysts' warnings regarding the potentially limited revenue impact from stablecoins.
