South Korea's Largest Bank KB Kookmin Has Filed for Registration for Stablecoins! Here Are the Details

South Korea's largest bank KB Kookmin has filed 17 different trademark applications focused on stablecoins, parallel to its efforts to create a legal framework for local currency-indexed stablecoins in the country.

South Korea's Largest Bank KB Kookmin Filed Trademark Applications for Stablecoin Consortium

Applications cover possible stablecoin symbols such as KBKRW, KRWKB, KBST, and KRWST.

According to the South Korea Intellectual Property Rights Information Service (KIPRIS) data, these applications were made between Monday and Tuesday.

Among the product classifications, there are software that manages cryptocurrency transactions using virtual/digital currencies and blockchain technology.

Officials from KB Kookmin, speaking to the local media outlet Aju Economic News, stated that these brand applications are part of the bank's efforts to establish a consortium in the stablecoin sector.

Other major fintech companies like KakaoPay also filed trademark applications for stablecoin symbols in a similar manner last week.

According to a report prepared by Economic Review, the country's leading 8 major banks, including KB Kookmin, Shinhan, Woori, Nonghyup, IBK, Suhyup, Citi Korea, and Standard Chartered Korea, are preparing to launch a joint initiative to issue a stablecoin indexed to the Korean won. These banks include four of the five largest banks in South Korea.

The new formation is expected to be established under a consortium structure in collaboration with organizations such as the Open Blockchain and Decentralized Identifier Association (OBDIA) and the Korea Financial Telecommunications and Clearing Institute (KFTC). The initiative is planned to be launched by the end of 2025 or the beginning of 2026.

South Korea is progressing towards becoming one of Asia's most innovative and fast-moving countries in terms of stablecoins. The moves by KB Kookmin and other major banks indicate that the transformation in this area has now reached an institutional level.

*It is not investment advice.

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