South Korean messaging app Kakao signs up for stablecoin trademark! Korean stocks for Kakao pump over 30%, can Kaia ride the stablecoin wave?

Local media reported that KakaoPay, a mobile payment service deeply integrated with South Korea's national messaging app KakaoTalk, has applied to the Korean Intellectual Property Office for trademarks related to the Korean Won stablecoin, including "KRWKP", "KWRP", and "KPKRW". Meanwhile, the gaming company Nexus has stated that once the Digital Asset Basic Act is enacted, it plans to become the first issuer of a Korean Won stablecoin. After the news of the stablecoin registration was revealed, Kakao's stock surged over 30%, and the South Korean stablecoin concept coin Kaia rose over 20%.

Kakao, with a market share of 97%, has registered a KRW stablecoin trademark.

Reports indicate that on the 17th, KakaoPay has applied to the Korean Intellectual Property Office for 18 trademarks including "KRWKP", "KWRP", and "KPKRW". These trademarks are composed of the "KRW" representing the Korean won and the symbols "K" and "P" representing Kakao Pay.

Although Kakao Pay responded that there are currently no specific plans and has only preemptively registered trademarks related to stablecoin business, the industry generally believes that Kakao has officially launched a plan for the issuance of a KRW stablecoin.

KakaoTalk can be said to be the national messaging app of South Korea, with the latest data showing that it has a market share of up to 97% in South Korea. The relationship between KakaoTalk and KakaoPay is as close as that of LINE to LINE Pay, which has drawn significant public attention to KakaoTalk's efforts in promoting stablecoin business.

In addition to KakaoPay, KakaoTaxi also has a high market share in South Korea. In the entertainment industry, the national sister IU (Lee Ji-eun) is also affiliated with EDAM Entertainment, which is invested by Kakao. Furthermore, Kakao has invested in STARSHIP, the parent company of the KPOP girl group IVE, as well as the established entertainment company SM, which has launched phenomenon-level groups such as aespa, Super Junior, Girls' Generation, and TVXQ.

A reference is that Kakao once launched the Klaytn public chain, which has now been rebranded in collaboration with LINE to launch the Kaia public chain, possibly regarded as a South Korean stablecoin concept coin, with attention to whether further cooperation will follow. Since the news of the stablecoin registration was exposed, Kakao's stock has pumped over 30%, and Kaia has pumped over 20%.

( Interview with Kaia Public Chain: Redefining your understanding of the brand new EVM compatible public chains launched by Kakao and Line )

Game company Nexus also promotes stablecoin, seven major banks are poised to act.

KakaoTalk's actions are seen as a response to the announcement made by cash-ruling party lawmaker Min Byeong-deok (Min Byeong-deok) regarding the "Digital Asset Basic Act," which is highlighted by the introduction of a licensing system for stablecoin issuance. According to the proposal, all stablecoin issuers must obtain official permission and hold at least 500 million KRW (approximately 368,000 USD) in their own capital.

(South Korea promotes the "Basic Law on Digital Assets": issuance of stablecoins requires a license, and plans to establish a presidentially affiliated regulatory committee)

At the same time, South Korean game company Nexus also officially announced plans to issue a Korean won stablecoin. In an interview with the Seoul Economic Daily, Nexus CEO Jang Hyun-kook said: "Our goal is to become the first company in South Korea to issue a KRW stablecoin." When the Basic Law on Digital Assets comes into effect, we plan to launch the KRW stablecoin "KRWx".

In April this year, the Open Blockchain and DID Association ( established the "stablecoin department", with members including KB Kookmin, Shinhan, Woori, NH Nonghyup, and IBKIB. The department plans to issue a bank-centric KRW stablecoin. Recently, the pure online banks K Bank and iM Bank also decided to participate.

This article reports that South Korea's messaging software Kakao has registered a stablecoin trademark! Kakao's stock surged over 30%, can Kaia ride the stablecoin wave? First appeared on Chain News ABMedia.