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Korean Stocks Ride New Wave: 'Crypto Nation' Status Fuels Stablecoin Frenzy
2 week ago /
Read about 0 minute
Author：小编
Since taking office, South Korea's new President, Lee Jae-myung, has swiftly fulfilled a campaign promise by introducing a bill enabling local firms to issue stablecoins. This bold move has injected fresh vigor into the Korean stock market, igniting investors' passion for Korean Won-backed digital currencies. This surge of enthusiasm has, in turn, sparked a renewed appetite for stock market investments. Shares of companies involved in the Bank of Korea's digital currency project have seen remarkable gains this month, with Kakao Pay's share price more than doubling and LG CNS's share price climbing nearly 70%. However, some of these gains were retraced last week as investors took profits.
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