South Korean Bank Files 17 Trademarks for Won-Backed Stablecoin Plan

KB Kookmin Bank applied for 17 stablecoin-related trademarks with the Korean Intellectual Property Office in preparation for a planned consortium of eight major South Korean banks to issue a won-backed stablecoin.

The filings cover ticker symbols such as “KBKRW,” “KRWKB” and “KRWL.” These trademarks fall under electronic transfer and financial transaction services for stablecoins. KB Kookmin Bank said it filed the applications to secure naming rights in advance and is working with other banks through a joint council.

KakaoPay and KakaoBank filed similar trademark applications before KB Kookmin Bank. KakaoPay applied for 18 “KRW”-based trademarks on June 17. KakaoBank filed 12 marks across cryptocurrency software and financial transaction categories earlier this month.

The trademark filings come as companies prepare for the National Assembly to pass the Digital Asset Basic Act. The law would legally permit private companies to issue won-based stablecoins.

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The consortium includes KB Kookmin, Shinhan, Woori, Nonghyup, Industrial Bank of Korea, Suhyup, Citibank Korea and SC First Bank. These banks are creating joint infrastructure plans and expect to present a working model by the end of 2025 or early 2026.

The banks are considering two different frameworks for issuing stablecoins. The first is a trust-based model where customer funds are held separately. The second is a deposit-linked model that issues coins at a 1:1 ratio with bank deposits.

A KB Kookmin Bank spokesperson said the bank “registered trademarks proactively to secure naming rights and are preparing in line with the joint council formation among banks.”

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South Korea's central bank expressed cautious support for commercial bank-issued stablecoins. Deputy Governor Ryoo Sang-dai said it is “desirable to first allow banks under strict regulation to issue won-based stablecoins” before expanding to non-bank companies. President Lee Jae-myung promised to update digital asset laws to include private sector stablecoin issuance alongside the Bank of Korea's central bank digital currency pilot program.