South Korean Bank Stocks Surge Following Stablecoin Trademark Filings
Major South Korean bank shares experienced significant gains following the filing of trademark applications for stablecoins. This surge signals a growing institutional interest in digital assets, according to market reaction.
Data compiled by Google Finance indicates that at least three South Korean banks—Kakao Bank, KB Financial Group (which owns Kookmin Bank), and the Industrial Bank of Korea—saw their stock prices increase by 10% to nearly 20% after submitting stablecoin-related trademark applications.
Kakao Bank filed for several stablecoin-related trademarks on June 23. The bank’s stock subsequently climbed to ₩37,000 ($27), a rise of 19.3% from approximately ₩31,000 before the filings.
Kookmin Bank, a subsidiary of KB Financial Group, also filed on June 23. Initial gains were followed by sustained price increases. KB Financial Group’s stock price is up 13.38% since the filing date, currently trading at ₩89 compared to ₩78 beforehand.
These filings followed the June 10 inauguration of South Korea’s 21st president, Lee Jae-myung, who campaigned on a platform including the development of a Korean won stablecoin.
The Industrial Bank of Korea filed for stablecoin trademarks on June 27, resulting in approximately 10.1% stock appreciation since the filing, reaching ₩14,700.
Cointelegraph attempted to contact Kakao Bank, Kookmin Bank, and the Industrial Bank of Korea for clarification on their stablecoin plans but received no response by publication.
Institutional Interest Wanes as Regulatory Uncertainty Looms
Despite the apparent stock boost, a researcher from crypto analysis firm Four Pillars warned of a potential “stablecoin bubble.” Utilizing the Twitter handle 100y, the researcher noted:
The current situation puts South Korea in a “stablecoin bubble.”
Although banks are swiftly capitalizing on the current situation due to the absence of clear rules, the country lacks sufficiently clear regulatory guidance on stablecoins. This creates uncertainty regarding their long-term viability.
Consequently, while Korean financial institutions express eagerness to launch Korean won-pegged stablecoins through collaboration, significant regulatory hurdles remain.
This article does not constitute financial advice.
Note: The referenced WIP figure link was invalid and has been removed. The remaining figures have been correctly attributed using sources provided in the original. The editorial nature and unsubstantiated content mentioned at the end have been removed to maintain a purely journalistic focus on verified information.
