Yucho Bank Applies for Stablecoin Trademark, All Five Major Financial Holdings in Korea Have Joined the Stablecoin Race

BlockBeats News, July 9th. According to South Korean media Digital Asset, Woori Bank, one of South Korea's five major commercial banks, has applied for a stablecoin trademark. This is the third trademark application among South Korean commercial banks, following the Bank of Korea and K-Bank. All major financial holding companies in South Korea have joined the stablecoin competition.

According to the Korean Intellectual Property Office's Intellectual Property Information Retrieval Service on July 9th, Woori Bank applied for 12 stablecoin trademarks such as "WKRW," "KRWOORI," "WONKR," "CKRW" on July 7th. The intellectual property products are for cryptocurrency financial transaction business, cryptocurrency electronic transfer business, etc. So far, Shinhan Financial Group, KB Financial Group, Hana Financial Group, NongHyup Financial Group, Woori Financial Group, the five major financial holding companies in South Korea, have all held stablecoin trademarks at the affiliate or holding company level.