As stablecoin legalization discussions intensify, South Korean banks are forming task forces and applying for trademarks to prepare for future opportunities.
Major South Korean banks, including Shinhan and KB Kookmin, are ramping up their cryptocurrency and stablecoin initiatives amid ongoing discussions about stablecoin legalization. They have created dedicated teams and applied for 81 stablecoin-related trademarks. The National Assembly is reviewing reform bills that could allow financial institutions to issue stablecoins, prompting banks to prepare proactively for new market opportunities.