Shares of leading South Korean banks jumped sharply after filing trademark applications for stablecoins, highlighting rising institutional interest in digital assets.
Data from Google Finance shows that at least three banks that recently sought trademarks for Korean won-pegged stablecoins saw their stock prices climb between 10% and nearly 20%. The surge reflects growing investor confidence in the banks’ potential move into the cryptocurrency space.
The trademark filings came soon after the June 4 inauguration of South Korea’s 21st president, Lee Jae‑myung, who campaigned on a crypto-friendly platform that included plans for a Korean won-backed stablecoin.
South Korean Bank Stocks Soar on Stablecoin Buzz
According to data from the World Intellectual Property Organization (WIPO), Kakao Bank submitted stablecoin-related trademark applications on June 23. South Korean outlet Industry News reported that the bank filed at least 12 trademarks linked to cryptocurrency.
Just a day after the filings, Kakao Bank’s stock price surged from $22.60 to 37,000 Korean won ($27), marking a 19.3% jump.
Kookmin Bank, a subsidiary of KB Financial Group, also submitted stablecoin-related trademark applications on June 23. The group’s shares saw a modest uptick the following day.
On June 24, the stock rose from $78 to $82, reflecting a 4.3% gain. Since then, Kookmin’s stock has continued its upward trend. At the time of writing, shares are trading at $89—up 13.38% since the trademark filings.
The Industrial Bank of Korea joined the stablecoin trend on June 27 by filing for related trademarks, triggering a rise in its share price. The bank’s stock is now trading at $14.70, up 10.1% from $13.30 at the time of the filing.
Meanwhile, other major South Korean banks have also shown interest in collaborating to launch a Korean won-pegged stablecoin.
Researcher Warns of Potential “Stablecoin Bubble” in South Korea
100y, a research lead at crypto research firm Four Pillars, described the current trend in South Korea as a “stablecoin bubble” in a post on X.
He noted that despite the absence of clear regulatory guidelines, banks are rushing to capitalize on the stablecoin craze—seeing stock price boosts shortly after filing for stablecoin-related trademarks.
The researcher added that despite banks rushing to capitalize on the momentum, South Korea lacks clear regulatory guidance on stablecoins, creating uncertainty around long-term viability.
