Kakao Pay has filed 18 stablecoin-related trademarks with South Korea’s intellectual property office, positioning the fintech company for the country’s anticipated digital currency market opening.
The trademark applications, submitted June 17, include names such as “PKRW,” “KKRW,” “KRWP,” “KPKRW,” and “KRWKP” according to industry sources. The designations cover electronic devices, software, financial services, and IT development across three intellectual property classes.
The filing coincides with President Lee Jae-myung’s administration advancing legislation to permit domestic stablecoin issuance. The proposed Digital Asset Basic Act would require stablecoin issuers to maintain minimum equity capital of 500 million won ($368,000) and obtain Financial Services Commission approval.
Kakao Pay shares have surged nearly 30% since Lee’s inauguration, with investors betting on the company’s potential role in a won-backed stablecoin ecosystem. South Korean exchanges recorded 56.8 trillion won ($40.8 billion) in asset outflows during the first quarter, with nearly half linked to foreign stablecoins.
However, skepticism remains. JPMorgan analysts warned that the rally in Kakao-related shares lacks fundamental justification, noting that concrete benefits from stablecoin policy remain uncertain. Regulatory experts have also expressed concerns about monetary policy implications of private stablecoin issuance.
The trademark strategy suggests Kakao Pay anticipates regulatory approval for its blockchain subsidiary Kaia’s announced won-stablecoin plans.
