[Market Focus] Me2on Surges as Use of USDC by US Circle, Noted by Apple and X, Gains Attention

The stock price of Me2on is on the rise. This appears to be due to increased attention on the fact that the virtual asset used in its self-developed blockchain P2E (Play-to-Earn) games can be exchanged for USDC, the stablecoin issued by US-based Circle.

On June 10, Me2on's stock price closed at 2,235 KRW, up 16.59% from the previous day. The news that Me2on is already utilizing stablecoins, which Apple and X (formerly Twitter) in the United States are reportedly considering for cost reduction, appears to have acted as a positive catalyst.

On June 8 (local time), US business magazine Fortune reported that Apple, X, and others have contacted Circle, the issuer of the stablecoin USDC. Stablecoins are virtual assets designed to minimize volatility by pegging their value to fiat currencies. Following this news, Circle's stock price soared by 29.40% on the New York Stock Exchange on June 6.

USDC, issued by Circle, is the world's second-largest stablecoin after Tether (USDT). It holds a 27% market share and ranks seventh in terms of market capitalization.

Since 2022, Me2on has allowed the in-game currency Meverse Play Token from its P2E game "Pocket Battles Global" to be exchanged for USDC. Subsequently, in its second P2E game, "XHeroes NFT War," in-game assets can also be converted to USDC.