Tether Expands South Korea Trademark Filings As Stablecoin Rules Take Shape
Tether has significantly expanded its trademark filings in South Korea, applying for seven trademarks covering its company name, logo, and Tether Gold (XAUT) token, a strategic departure from its previous focus on just product names. This move, coinciding with South Korea's development of new stablecoin regulations, suggests Tether is preparing to establish a formal business presence in the country, potentially in response to upcoming rules that may require foreign issuers to set up local branches.
South Korea's large and active crypto market makes it a crucial battleground. Rival stablecoin issuer Circle has already made inroads, filing trademarks last year and increasing USDC's market share. While Circle has advanced its local relationships through high-level meetings, Tether's strategy also targets the broader payments landscape. It sees an opportunity to serve South Korea's export economy by offering faster, cheaper cross-border transactions using stablecoins as payment tools, indicating a future competition that extends beyond trading into mainstream finance.
bitcoinist05/21 00:02
