Major South Korean banks experience stock price increases of up to 20% as they file for stablecoin trademarks, indicating rising institutional interest in digital assets.
Shares of South Korean banks surged by 10% to nearly 20% following trademark filings for stablecoins. Kakao Bank, Kookmin Bank, and the Industrial Bank of Korea filed for stablecoin trademarks, leading to significant stock price increases. Kakao Bank's shares rose 19.3% after its filing, while Kookmin Bank's stock climbed 13.38%. The filings coincide with the inauguration of President Lee Jae-myung, who has made crypto-friendly promises, including a Korean won-pegged stablecoin.