Shares of Kakao Bank, Kookmin Bank and the Industrial Bank of Korea rose by between 10% and 19% following stablecoin trademark applications.
Shares of major South Korean banks surged following trademark filings for stablecoins, signaling growing institutional interest in digital assets.
According to Google Finance data, at least three South Korean banks that recently applied for Korean won stablecoin trademarks saw stock prices increase by 10% to nearly 20%. The market reaction suggests investor optimism around the banks’ potential entry into the cryptocurrency sector.
The filings come shortly after the inauguration of the country’s 21st president, Lee Jae‑myung, on June 4. His campaign included crypto-friendly promises, including the development of a Korean won-pegged stablecoin.
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