Samsung Securities raised its target share price for Kakao Pay and other companies, saying the potential of the Korean won stablecoin will benefit fintech companies.

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According to Fnnews, Samsung Securities has listed Kakao Pay and NHN KCP as top picks in the Korean won stablecoin sector, raising their target stock prices by 23.4% and 24.8% respectively.

Samsung Securities noted that if South Korea allows non-bank financial technology companies to issue stablecoins in the future, large platforms like Kakao Pay will have a significant first-mover advantage and are optimistic about their potential to generate revenue through stablecoin circulation.

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