Major banks in South Korea are advancing their cryptocurrency operations amid potential stablecoin legalization, forming task forces and applying for trademarks.
Major South Korean banks, including Shinhan Bank and KB Kookmin Bank, are ramping up efforts for cryptocurrency and stablecoin operations as discussions on stablecoin legalization gain momentum. They have established specialized task forces and are actively applying for various stablecoin-related trademarks. The Korean National Assembly is reviewing several reform bills that may permit financial institutions to issue stablecoins, prompting banks to proactively prepare for upcoming market opportunities.