South Korean payment giant Kakao Pay officially launches Korean won stablecoin business layout According to Seoul Economy, South Korean payment giant Kakao Pay has officially launched its Korean won stablecoin business layout and has submitted 18 combined trademark applications containing "KRW" and company logos (such as KRWKP, KWRP, etc.) to the Patent Office, covering virtual asset financial transactions, electronic transfers, and intermediary services. This move is seen as a response to the legislative trend of South Korea's Digital Asset Basic Law, which intends to allow private issuance of Korean won stablecoins. Industry analysis points out that Kakao Pay's move is to seize the opportunity in the stablecoin market. Game company Nexthurs publicly announced on the same day that it will compete for the qualification to launch Korean won stablecoins. Currently, South Korean government and enterprises are accelerating the process of digital asset compliance, and it is expected that competition in the local stablecoin market will become increasingly fierce.