KakaoPay's stock price has risen over 200% in a month, and its stablecoin patent strategy has sparked heated discussions in the market.

According to The Block, the share price of South Korean payment giant KakaoPay has surged more than 200% in the past month, mainly due to the expected increase in its entry into the stablecoin space. According to Google Finance data, the company's share price rose from 30,800 won (about $22.25) on May 23 to the current 94,700 won (about $68.6) and rose 17.3% in early trading on Monday. According to the news, KakaoPay has filed six patent applications related to stablecoins, including PKRW, KKRW, KRWP, etc., covering services such as crypto transfers, brokerage, electronic payments, and token issuance. This comes after the new South Korean President Lee Jae-myung pledged to promote the issuance of won stablecoins in cooperation with the private sector, further boosting market expectations. According to South Korean media ZDNET Korea, KakaoPay said that the patent application is aimed at preparing for potential regulatory changes and will continue to monitor policy developments.