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Photo = Yonhap news |
[Alpha Biz= Paul Lee] Kakao Pay has officially taken steps toward launching a Korean won (KRW)-backed stablecoin, filing for 18 related trademarks as South Korea moves closer to allowing private issuance of fiat-backed digital assets through proposed legislation.
According to financial industry sources on June 22, Kakao Pay submitted trademark applications on June 17 for names combining “KRW” with Kakao Pay-related initials such as “K” and “P”—including terms like “KRWKP,” “KWRP,” and “KPKRW.” The filings fall under business categories such as virtual asset financial transactions, electronic transfers, and brokerage services.
While Kakao Pay noted that “no specific plans have been finalized yet,” the company acknowledged the move was a “preemptive trademark registration in relation to potential stablecoin business.”
Industry insiders believe Kakao is laying the groundwork for a full-scale entry into the KRW stablecoin space. One financial sector official said, “It’s clear that Kakao Pay is preparing for a possible KRW stablecoin launch and is securing potential brand names early that combine its corporate identity with the national currency.”
This move comes as South Korea’s Digital Asset Basic Act, which would permit private-sector KRW stablecoins, is under legislative review. With major tech and finance players like Kakao joining the fray, competition in the stablecoin market is expected to intensify.
On the same day, gaming company Nexusth (넥써쓰) declared its ambition in an interview with Seoul Economic Daily to become the country’s first KRW stablecoin issuer, signaling a new race for dominance in the future digital currency ecosystem.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
