Major banks and fintech companies in South Korea are rushing to secure trademarks related to stablecoins, moving to lock in names and brands even before formal issuance or regulatory frameworks are in place.
Leading the charge is KB Kookmin Bank, which has filed for trademarks such as “KBKRW,” “KRWKB,” and “KBST.” Hana Bank has joined the competition with 16 trademark applications, including “HanaKRW” and “KRWHana.” Kakao Pay and KakaoBank have also registered 18 and 12 related trademarks, respectively. Naver Pay has announced its intention to enter the market and is reportedly preparing internally.
This wave of trademark filings accelerated after the government declared plans to introduce Korean-won-based stablecoins and push forward a Digital Asset Basic Act. The Lee Jae-myung administration has positioned digital assets as a national growth priority, and financial institutions are trying to secure naming rights before regulations are finalized.
Industry observers see this trademark race as a symbolic move to establish early market leadership. In a market where issuer credibility is a core strength, brand recognition can translate into trust. Similar to the domain rush during the launch of internet-only banks, having the right name is likely to become a valuable asset.
However, the timeline and structure of stablecoin regulations remain uncertain, raising questions about whether today’s name claims will lead to real business advantages. The final licensing requirements and compliance standards set by regulators will heavily influence how these early strategies play out.
A financial industry official noted, “At this stage, it’s less about launching a product and more about signaling to the market that you’re ready to participate anytime. The real competition will start when the regulatory framework is in place.”
Although pilot issuances haven’t even begun, the battle over names is already fierce. As policy details emerge, banks, big tech, and fintech firms are likely to face an even more intense race for market dominance.
