Korean Woori Bank applies for stablecoin trademark as five major financial holding companies enter the market.

On July 9, according to South Korean media reports, one of South Korea's five major commercial banks, Woori Bank, has applied for a stablecoin trademark. This is the third trademark application case among South Korean commercial banks, following the applications by KB Kookmin Bank and Hana Bank. All major financial holding companies in South Korea have joined the stablecoin competition.

According to the Korean Intellectual Property Office, the intellectual property information search service on July 9 shows that Woori Bank applied for 12 stablecoin trademarks such as "WKRW", "KRWOORI", "WONKR", and "CKRW" on July 7. The intellectual property products are for cryptocurrency financial transaction services and cryptocurrency electronic transfer services, among others. So far, all five major financial holding companies, including Shinhan Financial Group, KB Financial Group, Hana Financial Group, NongHyup Financial Group, and Woori Financial Group, have held stablecoin trademarks at the level of affiliated companies or holding companies.