'Kakao Pay', Trading Halted Again in Two Days… What's Happening Amidst 'Won Stablecoin' Expectations? (Related Stocks Summary)
What's happening with 'Kakao Pay'? Kakao Pay, whose stock price surged by 147% this month alone, was designated as a 'high-risk investment stock' again today (26th), following the 24th, and its trading was halted for a day. This is an unusual situation where trading stopped twice in two days. Behind this lies the market's enormous expectations for the **legalization of 'Won Stablecoin'** promoted by the new government.
1. Reconstruction of the Event: Two 'Trading Halts', Why?
Kakao Pay's stock price has truly been a roller coaster.
- Stock Price Surge: As expectations for the introduction of 'Won Stablecoin' grew after the launch of the new government, the stock price surged by **147.8%** in June alone.
- First Warning and Trading Halt: Due to the sharp rise in stock price, the Korea Exchange designated it as a 'stock under investment warning', and trading was **halted for one day on the 24th (Tuesday)**.
- Continued Overheating: However, even on the 25th (Wednesday), when trading resumed, the stock price rose by an additional 1.96%, and the overheating continued.
- Second Risk Designation and Trading Halt: Eventually, the exchange designated it as a higher level **'high-risk investment stock'**, and accordingly, **trading was halted for one more day today (26th, Thursday)**.
2. Reason for Stock Price Surge: Expectations for 'Won Stablecoin' Legalization
The reason the market is so enthusiastic about Kakao Pay is because of the **'Digital Asset Basic Act'** promoted by the Democratic Party of Korea and the Lee Jae-myung administration.
- What is a Stablecoin?: It is a cryptocurrency whose value is pegged 1:1 to real currencies like the dollar or won. It has almost no price volatility and is used as a 'reserve currency' or 'payment method' in the virtual asset market.
- Meaning of Legalization: According to the currently proposed bill, not only banks but also **fintech companies like Kakao Pay can directly issue 'Won Stablecoin' whose value is pegged to the won, if they meet certain requirements (e.g., equity capital of ₩500 million or more)**.
- Kakao Pay's Opportunity: If the bill passes, Kakao Pay, with over 40 million users, is expected to enjoy a strong first-mover advantage in new financial businesses such as remittance, payment, and financial product linkage by issuing its own stablecoin, which is driving up its stock price.
3. Other 'Stablecoin Related Stocks'? (Investors Pay Attention!)
In addition to Kakao Pay, here are other related stocks that are expected to benefit from the legalization of 'Won Stablecoin' and are drawing market attention.
| Category | Stock Name | Description |
|---|---|---|
| Fintech/Payment Platform | Naver Financial (Naver) | The strongest platform competitor along with Kakao Pay. |
| Fintech/Payment Platform | Toss (Viva Republica) | Another fintech powerhouse armed with innovative financial services. |
| Fintech/Payment Platform | Danal | A company that can link its existing payment gateway (PG) business with virtual asset business. |
| Fintech/Payment Platform | KG Mobilians | A company that can link its existing payment gateway (PG) business with virtual asset business. |
| Blockchain Technology/Security | Dream Security | A company with essential security and authentication technology for stablecoin issuance and distribution. |
| Blockchain Technology/Security | Raon Secure | A company with essential security and authentication technology for stablecoin issuance and distribution. |
| Blockchain Technology/Security | FSN | A company engaged in blockchain technology-based marketing and platform business. |
| Game/Content | Wemade | A company with its own blockchain ecosystem and coins, making it easy to expand services using stablecoins. |
| Game/Content | Com2uS Holdings | A company with its own blockchain ecosystem and coins, making it easy to expand services using stablecoins. |
*(※ The above stocks are related stocks based on market analysis and are not investment recommendations.)*
4. Concerns About 'Coin Run' Amidst Rosy Outlook
However, it's not all rosy. On the 25th, the **Bank of Korea** warned in a report that if stablecoins spread indiscriminately, it could lead to financial market instability and impact the foreign exchange market due to **'coin runs'**, which are large-scale withdrawal incidents caused by a loss of confidence in a specific coin.
Between New Opportunities and Risks
'Won Stablecoin' is clearly an innovative concept that can open up new opportunities for the Korean financial market. However, it also harbors risks such as market overheating and financial system instability.
- What do you think of Kakao Pay's successive trading halt incidents? Did you expect the market's anticipation for 'stablecoins' to be this high?
- Is the government's push for 'Won Stablecoin' legalization an 'opportunity' or a 'risk' for our economy?
- Other than the 'stablecoin related stocks' introduced today, if there are any other stocks you are paying attention to, please feel free to share the information in the comments!
Kakao Pay's trading will resume tomorrow (27th). It remains to be seen how the market will react.
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