Cryptocurrency-related stocks are stirring as banks lead the movement to introduce stablecoins.
Lee Chang-yong, Governor of the Bank of Korea, revealed a positive stance on the possibility of issuing a won-based stablecoin led by banks during a press conference following the monetary policy meeting on the 10th. The Governor emphasized, "Future currency must be digitalized and able to carry programs" and "No institution has prepared stablecoins and deposit tokens like the Bank of Korea." He added, "As the President said, a won stablecoin is certainly necessary."
Following these remarks, cryptocurrency-related theme stocks also responded. According to the Korea Exchange, Bankware Global rose 29.97% that day, closing at the upper limit. As the company has previously collaborated with Woori Bank to showcase a Non-Fungible Token platform, this is interpreted as reflecting expectations of benefits from the banking sector's stablecoin realization.
Other related companies such as Dozen, Hancom With, and Kakao Pay also showed rising stock prices. Particularly, Dozen rose about 25%, Hancom With increased 8%, and Kakao Pay rose 2%, drawing market attention.
Stablecoins are cryptocurrencies linked to a 1:1 value with regular currency. Recently, not only the four major commercial banks but also non-financial sectors like game companies are gradually filing stablecoin trademarks, jumping into this market. Consequently, companies with related technologies are also gaining attention.
However, the Governor drew a line at allowing stablecoin issuance beyond the banking sector. He expressed concerns, saying, "If issuance is permitted for non-bank financial institutions, various problems could arise" and "If multiple private currencies emerge, their values could differ, causing confusion."
Attention is focused on discussions and industry movements surrounding stablecoins and whether cryptocurrency can establish itself as a new currency in the digital era.
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