Expectations for the institutionalization of the won stablecoin are rising, leading to an increase in stock prices of fintech companies that provide payment services as of the 19th.
As of 9:49 a.m. on the 19th, KCT is trading at 5,070 won, up 660 won (14.97%) from the previous trading day on the KOSDAQ market. Early in the session, the stock price reached 5,380 won, marking a new high for the year.
NHN KCP (8.48%), ITCEN (7.84%), Kakao Pay (4.52%), and Hecto Financial (1.33%), which are associated with won stablecoins, are all seeing their stock prices rise.
Earlier, Min Byung-deok, a member of the Democratic Party of Korea, proposed the 'Digital Asset Basic Law' on the 10th. This bill includes provisions to establish a presidential commission on digital assets and legally permit the issuance of digital assets.
The key point is to allow domestic corporations with a capital of over 500 million won to issue won-based stablecoins with the approval of the Financial Services Commission, strategically nurturing the digital asset industry at the national level.
The Bank of Korea's shift from a conservative stance toward stablecoins is also interpreted as improving investor sentiment. Lee Chang-yong, the governor of the Bank of Korea, noted on the 18th, 'To be clear, a won stablecoin is necessary, and I do not oppose its issuance,' effectively signaling support for the introduction of a won stablecoin.