KakaoBank has applied for trademark rights to secure a foothold in the stablecoin market.
According to the financial sector on the 25th, KakaoBank recently filed for a total of 12 trademark rights, including four trademarks: BKRW, KRWB, KKBKRW, and KRWKKB, across classes 9 (cryptocurrency software, etc.), 36 (cryptocurrency financial transactions, etc.), and 42 (cryptocurrency mining business, etc.).
A representative from KakaoBank said, "We applied for the trademark rights to proactively respond to movements in the stablecoin market," and noted, "We are closely monitoring related legislation and market conditions."
KakaoBank is reportedly examining market trends, technologies, and regulations related to virtual assets through its investment division within the new business group. It is interpreted that the company is preparing to quickly enter the market once the legal and institutional environment is established.
Recently, Kakao Pay also applied for a total of 18 trademark rights divided into 6 trademarks: PKRW, KKRW, KRWK, KRWP, KPKRW, and KRWKP, across classes 9, 36, and 42 as part of a proactive market response.
Recently, discussions on institutionalizing the 'Digital Asset Basic Act,' which allows the issuance of won-linked stablecoins, have accelerated in the National Assembly.
If a legal foundation is established, major financial and fintech corporations, including KakaoBank and Kakao Pay, are expected to enter the stablecoin business. Recently, Kakao-related stocks rose significantly due to expectations of benefiting from a won stablecoin following the inauguration of Lee Jae-myung's government.
KakaoBank's stock price has risen 57% just this month. Kakao Pay skyrocketed by 143% during the same period, and trading was halted the previous day due to overheating of its stock price.