KRW Stablecoin Incoming? Kakao Pay Files Trademarks as KAIA Token Defies Market Slump
TradingKey – South Korean fintech giant Kakao Pay is preparing to launch a won-pegged stablecoin, fueling a sharp rally in its affiliated token Kaiachain (KAIA) despite a broader crypto market downturn.
On Monday, June 23, while most cryptocurrencies declined, KAIA surged nearly 3%, trading at $0.19. Since June 17, the token has gained 27%, bucking the market trend.
KAIA Price Chart – Source: TradingView.
According to the Seoul Economic Daily, Kakao Pay has officially initiated its KRW stablecoin project. The announcement boosted investor confidence, sending KAIA higher in an otherwise bearish market.
On June 17, Kakao Pay filed 18 trademark applications with the Korean Intellectual Property Office, covering stablecoins, digital transfers, and other financial services. While the company stated that no final plans have been confirmed, the filings are seen as a strategic move to secure branding for future stablecoin initiatives.
Earlier this month, on June 10, South Korea’s ruling Democratic Party, led by President Lee Jae-myung, introduced the Digital Asset Basic Act, which would allow qualified domestic firms to issue stablecoins — laying the regulatory groundwork for a KRW-backed digital asset ecosystem.
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