Korean payment service provider Kakao announced the launch of its "Korean Won Stablecoin" business

ChainCatcher news, according to the Seoul Economic Daily, South Korean payment giant Kakao Pay has officially launched its won stablecoin business. The company applied for 18 trademark rights to the Korean Patent Office on June 17, which combine the "KRW" (won symbol) with letters representing Kakao Pay, such as "K" and "P", including trademarks like "KRWKP", "KWRP", and "KPKRW". These trademarks are classified in areas such as virtual asset financial transactions, electronic transfers, and intermediary services.

Kakao Pay stated that although "specific plans have not yet been determined," this is "a preliminary registration of trademark rights for the stablecoin business." Industry insiders believe that Kakao Pay's move is aimed at seizing market opportunities, especially in the context of the South Korean political arena proposing the "Basic Law on Digital Assets," which would allow private enterprises to issue won stablecoins.