Tether accelerates its entry into South Korea, submits trademark applications for company name and logo
BlockBeats news, May 19, Tether is accelerating its push into the South Korean market. According to the crypto industry, as the company applies for trademark rights in South Korea including the company name and logo, there are speculations about the possibility of establishing a Korean branch in the future.
Recently, Tether has submitted a total of 7 trademark applications in South Korea, including the “Tether” brand logo and its gold-pegged stablecoin “Tether Gold.” In the past, the company mainly registered trademarks in South Korea related only to stablecoin product names, but this time it has expanded to cover the brand and logo.
Industry insiders believe this could mean Tether is laying the groundwork for business operations in the Korean market. Analysts have pointed out that as South Korea’s Digital Asset Basic Act (the second phase of the virtual asset law) is progressively implemented, overseas stablecoin issuers may need to establish local branches if they wish to operate in the country. Thus, Tether’s move is seen as a preemptive step, acting faster than rival Circle.
Circle CEO Jeremy Allaire visited South Korea this April, meeting with financial holding companies and crypto exchanges to discuss possible collaborations. He said at the time: “South Korea is one of the world’s most vibrant crypto markets and one of the countries most likely to develop a mature stablecoin market in the future.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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