On June 30, according to sources from Seoul Economy, IBK Corporate Bank and Shinhan Financial Group in South Korea officially registered trademarks for stablecoins pegged to the Korean won, marking an important step in the race to issue stablecoins in the country. This registration opens up prospects for stable electronic money transfer services and digital asset management based on Blockchain led by major financial institutions. This move not only reflects the deep interest of the South Korean banking system in the cryptocurrency market but also promises to promote the development of safe and transparent digital finance on the Blockchain platform.

IBK Corporate Bank registers trademark for Korean won stablecoin

IBK Corporate Bank submitted applications for 10 trademarks related to stablecoins such as 'IBKKRW', 'IBKRW', and 'ONEIBK' on June 27. The purpose of these trademarks is to serve stable electronic money transfer activities and digital asset management based on Blockchain. This is seen as a strategic move to leverage Blockchain technology advantages to create safer and more convenient DeFi products.

Trademark registration not only helps protect the brand but also assists IBK in expanding services and building credibility in the rapidly growing cryptocurrency market in South Korea.

Shinhan Financial Holdings joins the race to issue stablecoins pegged to the won

Shinhan Financial Holdings also registered 21 trademarks related to stablecoins on June 26, including the names 'KRWSHB', 'SFGKRW', and 'SHKRW'. This application focuses on cryptocurrency financial projects such as digital asset trading and intermediary roles in the cryptocurrency sector.

This move demonstrates Shinhan's commitment to harnessing the potential of DeFi and building a digital ecosystem based on Blockchain technology in the South Korean market.

The significance of Korean won stablecoins in the South Korean cryptocurrency market

Korean won stablecoins will help improve stability in cryptocurrency trading and investment, minimizing price volatility and risks compared to other digital currencies. The use of stablecoins linked to the won allows South Korean users to easily access digital financial services safely and transparently.

In addition, stablecoins create opportunities for financial institutions to expand cross-border payment services, optimize money transfer processes, and increase access to modern financial products.

Development potential and challenges in issuing stablecoins in South Korea

The issuance of stablecoins pegged to the won will contribute to the development of the digital economy and DeFi in South Korea. However, organizations face challenges regarding legal regulations, security, and market acceptance.

Ensuring compliance with safety and transparency standards in digital asset management will be a key factor in gaining trust and widespread acceptance for these stablecoins.

Source: https://tintucbitcoin.com/ibk-va-shinhan-dang-ky-nhan-hieu-stablecoin/

Thank you for reading this article!

Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news about the cryptocurrency market and not miss any important information!