On June 23, news from the Seoul Economic Daily reported that South Korean payment giant Kakao Pay has officially launched its Korean won stablecoin business. The company applied for 18 trademarks with the Korean Patent Office on June 17, which combine the "KRW" (Korean won symbol) with letters representing Kakao Pay such as "K" and "P", including combinations like "KRWKP", "KWRP", and "KPKRW". These trademarks are classified under virtual asset financial transactions, electronic transfers, and intermediary services. Kakao Pay stated that although "specific plans have not yet been determined," this is for "pre-registering trademarks for the stablecoin business." Industry insiders believe that Kakao Pay's move is to seize the market, especially in the context of the proposed (Digital Assets Basic Law) in South Korea, which would allow private enterprises to issue Korean won stablecoins.