Kakao Bank saw its stock rise by 19.3% to 37,000 won and Kookmin Bank’s shares increased 13.38% to 122,000 won after filing for stablecoin trademarks. The Industrial Bank of Korea experienced a 10.1% increase, reflecting significant institutional interest in digital assets.
The trademark filings follow the inauguration of President Lee Jae-myung, who has expressed support for cryptocurrencies. This political backing may further fuel banks’ developments in stablecoins, enhancing their presence in the rapidly evolving crypto market.
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