Chiara Bianchi
South Korea’s largest bank, KB Kookmin, has taken a bold step towards entering the stablecoin market by filing 17 trademark applications for KRW-based digital tokens. According to the Korea Intellectual Property Rights Information Service (KIPRIS), the bank registered ticker names such as KBKRW, KRWKB, KBST, and KRWST earlier this week. These applications cover areas like digital currency software and blockchain-based transaction services.
This move signals KB Kookmin’s growing focus on launching a Korean won-backed stablecoin, aligning with the country’s efforts to build a favorable legal framework for digital assets.
KB Kookmin is not acting alone. KakaoPay, a top mobile payments platform, recently applied for six stablecoin-related symbols, highlighting the rising interest in KRW stablecoins across South Korea’s financial sector.
According to a report from Economic Review, KB Kookmin is working with seven other major banks — including Shinhan, Woori, Nonghyup, IBK, Suhyup, Citi Korea, and Standard Chartered Korea — to form a joint venture. Together, these institutions will launch a KRW-based stablecoin initiative, making it one of the biggest collaborative moves in South Korea’s banking industry.
Consortium Aims to Launch KRW Stablecoin by Late 2025
The planned consortium will work closely with the Open Blockchain and Decentralized Identifier Association (OBDIA) and the Korea Financial Telecommunications and Clearings Institute (KFTC) — a non-profit organization that operates the nation’s interbank payment and clearing network. According to reports, this initiative is expected to launch by late 2025 or early 2026, in line with legislative efforts in the National Assembly to regulate stablecoins.
Why KRW Stablecoins Matter for South Korea’s Economy
Korean won-pegged stablecoins are gaining momentum, thanks to strong political backing. President Lee Jae Myung has promised to approve and support stablecoin projects in partnership with the private sector. Meanwhile, lawmaker Min Byeong-deok introduced a proposal earlier this month to speed up approvals for KRW stablecoins, making it easier for private firms to issue and utilize the digital tokens.
“This initiative is expected to yield several economic benefits — from reducing trade costs and diversifying foreign exchange risk to boosting global investment into the local economy,” said Min in an interview with PRIME.
A New Chapter for South Korea’s Digital Economy
With traditional banks, fintech giants, and policymakers aligning their efforts, South Korea is setting the stage to become a global hub for stablecoin innovation. The combined force of leading banks and legislative support is expected to enable seamless digital payments across industries — including e-commerce, gaming, and digital content platforms — making the future of stablecoins brighter than ever.
