Circle has become the most favored overseas stock among South Korean investors, with retail investors net buying 450 million USD this month.

On June 27, according to CoinDesk, South Korean retail investors are fervently buying Circle, netting $450 million this month, making it the most favored overseas stock among the Korean public. Circle currently has a price-to-earnings (P/E) ratio of 187 times, far exceeding that of traditional financial technology companies. Since its listing on June 5, Circle's stock price has skyrocketed over 500%, with a market capitalization reaching as high as $77 billion. With new President Lee Jae-myung accelerating the legalization of the Korean won stablecoin, South Korea's homegrown fintech giant KakaoPay's stock price has surged by 160%. Meanwhile, the Korean National Assembly is reviewing the "Digital Asset Framework Bill," which aims to allow licensed institutions like KakaoPay to issue Korean won stablecoins.

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