TechFlow news, June 23 — According to the Seoul Economic Daily, South Korean payment giant Kakao Pay has officially launched its Korean won stablecoin business. On June 17, the company filed applications for 18 trademark registrations with the Korean Intellectual Property Office. These trademarks combine "KRW" (the symbol for Korean won) with letters representing Kakao Pay such as "K" and "P," including combinations like "KRWKP," "KWRP," and "KPKRW." The trademarks fall under categories including virtual asset financial transactions, electronic transfers, and intermediary services.
Kakao Pay stated that while it has "not yet finalized specific plans," this move represents "preemptively registering trademark rights for stablecoin operations." Industry insiders believe Kakao Pay's action aims to secure a market advantage, especially amid legislative developments in South Korea, where the proposed Digital Asset Basic Act would allow private companies to issue Korean won-pegged stablecoins. Meanwhile, on the same day, gaming company Nexus revealed in an interview with the Seoul Economic Daily its ambition to become the first issuer of a Korean won stablecoin.
