South Korean bank stocks rise amid applications for stablecoin trademark registration

Shares of the largest banks in South Korea have significantly increased following applications for trademark registrations related to stablecoins. This indicates

Shares of the largest banks in South Korea have significantly increased following applications for trademark registrations related to stablecoins. This reflects the growing interest of financial institutions in digital assets.

According to Google Finance, shares of at least three South Korean banks that recently applied for trademark registrations of stablecoins pegged to the won have risen by 10-20%. This market reaction indicates investors' optimism regarding the potential entry of these banks into the cryptocurrency sector.

The applications were submitted shortly after Lee Jae-myung took office as the 21st president of the country on June 4. During his election campaign, he promised to support the crypto industry, including the development of a stablecoin pegged to the South Korean won. Bank stocks are rising on the wave of interest in stablecoins.