Crypto is getting more attention in South Korea amid the emergence of a pro-crypto President.
Circle Internet Group stock (CRCL) has continued with its soaring momentum. In South Korea, traders have invested millions of dollars in CRCL, underscoring the rapid growth of the stock overseas.
According to data from Yahoo Finance, CRCL increased by 3.9% in pre-market trading. Over the past day, the crypto stock rallied 7.5% to $213.63 per share.
So far, Circle’s CRCL has increased by more than 800% since the Initial Public Offering (IPO) launch on June 5.
The crypto stock rallied to over 800% 18 days after debuting on the New York Stock Exchange. Also, the market capitalization briefly hit $77 billion.
This surge made the company more valuable than the USDC stablecoin, with a valuation of $61 billion.
Notably, South Korean traders have contributed largely to the rallies in Circle stock. The demand for CRCL follows the election of Lee Jae Myung as South Korea’s new President.
Lee has promised to fast-track reforms to legalize Korean won-backed stablecoins. This will allow fintech giants like KakaoPay to issue digital won.
Already, shares of KakaoPay are up 160% in June alone. Meanwhile, Korean investors are shifting attention to CRCL, with Circle as the global proxy for stablecoin adoption.
CRCL has become the most popular overseas stock among South Korean retail investors in June 2025, with nearly $450 million in inflows.
Besides Circle CRCL, South Korean investors have driven surges in other cryptocurrencies, such as Ripple’s associated XRP.
This phenomenon is known as the “Kimchi premium,” where local demand drives asset prices 10-20% higher than global averages.
Meanwhile, President Lee Jae-myung recently disclosed plans to allow the National Pension Service to invest in Bitcoin and other cryptocurrencies.
This would mark a shift in public fund strategy and bring institutional legitimacy to the local crypto market.
In addition, the pro-crypto presidential administration plans to legalize spot Bitcoin Exchange-Traded Funds (ETFs).
These investment instruments remain banned under the current South Korean crypto regulations.
Thus, the government will enforce a new framework to support the safe issuance and trading of spot-based crypto ETFs.
In February, Ripple allied with BDACS to provide institutional custody for XRP and RLUSD in South Korea.
The partnership aligns with the roadmap of the Financial Services Commission (FSC) for institutional crypto participation.
Circle stock is just one among several other crypto stocks with positive outcomes in June 2025. Coinbase Global (COIN) has recorded a 42.5% surge so far this month.
Historically, COIN has been a retail favorite in South Korea during crypto bull runs.
As a leading crypto exchange, Coinbase benefits from increased trading volumes and stablecoin activity.
Michael Saylor’s Strategy (MSTR) is another crypto-based firm that has performed quite well this month.
MSTR surged 4.58% this month. Known for its massive Bitcoin holdings, Strategy acts as a proxy for crypto stock market exposure.
MARA Holdings (MARA), a Bitcoin mining firm, has also shown strong momentum.
MARA is up 1.94% over the last 24 hours, trading above $15 per share. Over the past month, the value of MARA has increased by 3.7%.
Meanwhile, the broader crypto market is still consolidating. Bitcoin is fighting to climb above $107,000. Likewise, Ethereum (ETH) has failed to surge above the $2,400 level.
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