South Korean bank stocks have surged significantly following a wave of stablecoin-related trademark filings, reflecting the growing interest of traditional financial institutions in digital assets. Major players including Kakao Bank, Kookmin Bank, and the Industrial Bank of Korea recorded gains between 10 to nearly 20 percent in recent days, driven by investor enthusiasm for their potential move into the cryptocurrency space.
Trademark filings spark investor excitement
According to Google Finance data, at least three prominent South Korean banks that submitted applications for Korean won-pegged stablecoin trademarks saw notable stock price increases. These filings come at a time of heightened anticipation in the country’s crypto sector, following the inauguration of President Lee Jae-myung on June 4. Lee had promised a more crypto-supportive environment during his campaign, including backing for a Korean won stablecoin.
Kakao Bank filed for 12 cryptocurrency-related trademarks on June 23, as reported by South Korean media outlet Industry News. Following the filing, the bank’s shares surged to 37,000 Korean won, or approximately 27 US dollars, from 22.60 dollars — a 19.3 percent jump.
Kookmin and Industrial Bank of Korea follow suit
Kookmin Bank, part of KB Financial Group, also filed stablecoin-related trademarks on the same day. Initially, its shares showed a modest 4.3 percent increase, rising from 78 to 82 dollars. However, the momentum continued, and the bank’s stock has now climbed to 89 dollars, marking a 13.38 percent increase since the trademark filing.
Kakao Bank’s stock prices after the stablecoin application. Source: Google Finance
On June 27, the Industrial Bank of Korea joined the trend by filing for similar trademarks. The announcement prompted its share price to rise from 13.30 dollars to 14.70 dollars, a gain of 10.1 percent.
Speculation rises amid limited clarity
The filings by these leading banks have not only sparked a rally in their stock prices but have also drawn attention to South Korea’s evolving relationship with digital assets. While investors appear bullish on the prospects of traditional banks entering the stablecoin space, regulatory uncertainties remain.
Despite attempts to seek clarity, Kakao Bank, Kookmin Bank, and the Industrial Bank of Korea have not yet commented publicly on their stablecoin plans.
Calls for regulation as stablecoin bubble fears grow
According to 100y, a research lead at crypto research firm Four Pillars, the nation may be facing what he calls a “stablecoin bubble.” Posting on X, he warned that banks are capitalising on the hype surrounding digital currencies without a clear regulatory framework in place.
Source: 100y
While banks benefit from short-term market gains through trademark announcements, the long-term sustainability of these moves remains in question. The lack of structured regulation for stablecoins in South Korea leaves a significant gap between market enthusiasm and policy readiness.
Banks show willingness to collaborate
Aside from individual efforts, several major South Korean banks have also expressed interest in collaborating to launch a won-pegged stablecoin. Such initiatives, if realised, could mark a major shift in the global digital currency landscape, bringing state-linked banking institutions directly into the cryptocurrency fold.
As the regulatory picture continues to develop, the performance of these banks and the future of Korean stablecoins remain subjects of close attention within financial markets.
