Stablecoin Theme Overheats… Kakao Pay Faces Another Trading Suspension in Two Days
Summary
- It was announced that Kakao Pay has been designated as an investment risk stock and trading was suspended for one day.
- It was reported that Kakao Pay shares surged in the short term due to recently heightened expectations around the introduction of a KRW stablecoin.
- It was stated that if shares surge further, buy/sell transactions could be suspended again.
Kakao Pay was designated as an investment risk stock and trading was suspended for one day on the 26th. Stock prices surged in the short term on expectations of the introduction of a KRW stablecoin.
The Korea Exchange (KRX) announced that it had designated Kakao Pay as an investment risk stock. After resuming trading following the previous suspension on the 24th, trading has been suspended again after just two days. If the stock price soars further after trading resumes, buy/sell transactions may be halted again for one day.
Since the launch of the new government, expectations for the introduction of a KRW stablecoin have increased, causing Kakao Pay's share price to jump 147.8% just this month. Yesterday, the price reached ₩114,000 during the day, marking a new 52-week high.
Go Jeong-sam, Hankyung.com journalist jsk@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
