Korean retail investors are enthusiastically buying Circle, with net purchases reaching $450 million

ChainCatcher news, according to CoinDesk, South Korean retail investors are fervently buying Circle, with a net purchase of $450 million this month, making it the most favored overseas stock among the Korean public.

Circle currently has a price-to-earnings ratio of 187, far exceeding that of traditional fintech companies. As the new president Lee Jae-myung accelerates the legalization of the Korean won stablecoin, the stock price of local fintech giant KakaoPay has surged by 160%. Meanwhile, the South Korean National Assembly is reviewing the "Digital Asset Framework Bill," which aims to allow licensed institutions like KakaoPay to issue Korean won stablecoins.