BNK Financial Holdings, Busan Bank, and Kyongnam Bank Each File Stablecoin Trademarks
Busan Bank and Kyongnam Bank Officially Join Stablecoin Consortium for Bank-Led Issuance
BNK Financial Group (Chairman Bin Daein) is accelerating its efforts to secure a leading position in the digital asset ecosystem.
On July 4, the group announced that BNK Financial Holdings, along with its subsidiaries Busan Bank and Kyongnam Bank, had filed a large number of trademark applications related to won-based stablecoins.
This trademark filing marks the first step toward the commercialization of a won-based stablecoin. BNK Financial Holdings has applied for a total of 11 trademarks in collaboration with its subsidiaries and fintech partners, while Busan Bank has filed for 10 trademarks and Kyongnam Bank for 4 trademarks, respectively.
This move is being interpreted as a signal that concrete preparations for bank-led issuance of digital currency are now in full swing.
Currently, most stablecoins circulating in the market are based on the US dollar. However, there are growing concerns that this could weaken the utility and influence of the Korean won in the domestic digital asset market. In response, major domestic banks are jointly pursuing won-based stablecoins to protect the nation's monetary sovereignty and ensure financial stability.
BNK Financial also stated that Busan Bank and Kyongnam Bank have officially joined the 'Stablecoin Division' of the Open Blockchain DID Association (OBDIA) and are participating in joint research. OBDIA is currently leading the establishment of a stablecoin joint venture in collaboration with the Korea Financial Telecommunications and Clearings Institute and 11 major domestic banks.
A BNK Financial Group representative stated, "Stablecoins are emerging as the core of digital financial infrastructure, going beyond being merely a means of payment," and added, "As stablecoins have the potential to reshape the market landscape, we will work closely with major financial institutions to develop sophisticated market entry strategies and implementation plans."
The financial sector views stablecoins as a key infrastructure for next-generation value storage and cross-border remittances, and is also considering the possibility of linking them with CBDCs (Central Bank Digital Currencies) in the future. BNK Financial's latest move is seen as a proactive step to secure a leading position in the domestic stablecoin market going forward.
BNK Financial Group.
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