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South Korea Banks File #Stablecoin Trademarks for Won-Pegged #Token Launch
KB Kookmin Bank filed 17 trademark applications for stablecoin symbols, including KBKRW and KRWKB, this week.
The largest South Korean bank leads a consortium of eight major financial institutions preparing a Korean won stablecoin.
Participating banks include Shinhan, Woori, Nonghyup, IBK, Suhyup, Citi Korea and Standard Chartered Korea.
The consortium plans to launch in late 2025 or early 2026, collaborating with #blockchain advocacy body OBDIA.
President Lee Jae Myung has vowed to approve and promote won-pegged #stablecoins in partnership with the private sector.
The initiative aims to reduce trade costs, diversify foreign exchange risks, and boost global investment in Korea's economy.
