Kakaopay’s shares surged by 200% in June but faced a significant decline after South Korean regulators issued warnings regarding stablecoin risks. The stock price fell from a high of 93,800 KRW (approximately 69.17 USD) to 62.09 USD in response to regulatory pressures.
While South Korea continues to be a strong player in the crypto market, the adoption of stablecoins is challenged by new rules tying issuances to commercial banks. However, retail interest in stablecoin trading remains robust, indicating ongoing demand despite the regulatory hurdles.
Leave a Reply