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The shares of the main South Korean banks increased after the administration of the trademarks for stablecoins and signaled the growing institutional interest in digital assets.
According to Google’s financing data, at least three South Korean banks who recently applied for Korean won Stablecoin trademarks, their stock prices increased by 10% to almost 20%. The reaction on the market proposes the investor’s optimism around the potential bank entry into the cryptocurrency sector.
According to the submission, it came shortly after the inauguration 21. The development of the Korean Stablecoin won won.
Shares of South Korean Banks Overvoltage in the middle of Humbuk
Data from the world’s intellectual property organization (WIPO) show that cocoa bank submitted For trademarks related to Stablecoin 23 June. reported that the company asked at least 12 trademarks related to cryptomy.
A day later, its stock price jumped At 37,000 Korean won ($ 27) out of $ 22.60, an increase of 19.3%.
Kookmin Bank, a subsidiary of KB Financial Group, also submitted For trademarks related to Stablecoin 23 June. The group’s shares recorded a modest initial profit the day after the administration.
Its stock price climbed to 82 $ 24, June, by 4.3% increase from $ 78 prior to submission.
Kookmin’s shares price continued to rise. At the time of writing, her shares were traded for $ 89, which was 13.38%because she filed a Stablecoin trademark.
27th June also Industrial Bank Korea submitted For Stablecoin trademarks, causing an increase in its shares. Bank’s shares at present shops at $ 14.70, which is 10.1% of its submission when trading for $ 13.30.
Cointlegraph contacted Kakao Bank, Kookmin Bank and an industrial bank in Korea, where he received more information about their Stablecoin plans, but did not receive any answers by publishing.
Other main banks in the country have expressed their desire to join And run Stablecoin suspended into the currency.
Related: The new President of South Korea will strengthen the crypto but the scandals prevail
The researcher says South Korea faces “stablecoin bubble”
100y, research leader for the crypto research company Four Pillars, said X that the current situation puts South Korea in the “Stablecoin bubble”.
Despite the lack of clear rules, the bank jumped into hype stablecoin, which benefits from elevated stock prices after the administration of trademarks related to stablecoin.
The researcher added that despite banks are in a hurry to make money for dynamics that South Korea lacks clear regulatory instructions for stablecoins, creating uncertainty about long -term viability.
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