Circle Mania Grips South Korea as Retail Investors Pile Into Stablecoin Play

币界网报道:New York-listed Circle (CRCL) has emerged as June's breakout stock in Seoul, with South Korean retail traders investing nearly $450 million into shares of Circle Internet Group, making it the most heavily bought overseas stock this month and a top-four pick for the year. Since its June 5 debut, the stock has surged over 500%, briefly reaching a $77 billion market cap—exceeding the $61 billion market cap of its issued stablecoin, USDC. South Korean investors, known for driving euphoric rallies in assets like XRP and Dogecoin, are fueling demand amid newly elected President Lee Jae Myung's push to legalize KRW-backed stablecoins, enabling fintech firms like KakaoPay to issue digital won. KakaoPay's shares have risen 160% in June, and investors are now applying similar optimism to Circle as a global proxy for stablecoin adoption. As one of the few publicly traded firms offering pure exposure to stablecoin infrastructure, Circle benefits from growing mainstream crypto sector momentum.

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