KakaoBank is showing strong performance at the beginning of the day on the 11th. It appears that the comments made by Lee Chang-yong, the governor of the Bank of Korea, about promoting the issuance of stable coins centered around banks have stimulated investor sentiment.
As of 9:08 a.m. on this day, KakaoBank is trading at 33,300 won, up 1,300 won (4.06%) from the previous trading day.
The governor stated at the monetary policy direction press briefing on the 10th, "If multiple non-bank institutions create stable coins, it amounts to multiple private currencies being created, which risks the circulation of various currencies with different values. In such a country, it is difficult to execute monetary policy effectively, and various side effects can occur in the financial system."
KakaoBank is reportedly preparing to enter the stable coin business by filing a trademark related to cryptocurrency with the Korean Intellectual Property Office. Previously, the company had proactively responded to the stable coin business by establishing innovative research and development (R&D) organizations focused on AI, blockchain, and homomorphic encryption.