Shares of Several South Korean Banks Surge Following Stablecoin Trademark Applications

According to Jinse Finance, data from Google Finance shows that among the South Korean banks that have recently applied for won-pegged stablecoin trademarks, at least three have seen their stock prices rise by 10% to nearly 20%. The market response indicates that investors are optimistic about these banks’ potential opportunities in the cryptocurrency sector. The trademark applications were submitted shortly after South Korea’s 21st president, Lee Jae-myung, took office on June 4. His campaign included crypto-friendly promises, such as developing a stablecoin pegged to the Korean won. On June 23, an exchange applied for stablecoin-related trademarks, submitting at least 12 cryptocurrency-related trademark applications. The following day, its stock price jumped from 31,000 won (22.6 USD) to 37,000 won (27 USD), an increase of 19.3%. Kookmin Bank’s stock price reached 122,000 won (89 USD), up 13.38% since it applied for a stablecoin trademark.