Tether Files Seven Trademark Applications in South Korea

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Tether, the company behind the world’s largest stablecoin USDT, has filed seven trademark applications in South Korea. These include its company name, official logo, and its gold-backed token Tether Gold (XAUT).

The filings could help Tether set up an official local business in South Korea and prepare for new stablecoin rules that may come soon.

Tether Expands Trademark Filings in South Korea

According to data from the Korea Intellectual Property Rights Information Service, Tether has changed its strategy in South Korea. Earlier, the company mainly filed trademarks for its stablecoin product names. 

But now, it is also seeking protection for its company name, official logo, and other assets like Tether Gold (XAUT).

The latest filings, made on May 19, are being seen by some in the crypto industry as a sign that Tether may be planning a stronger business presence in South Korea. 

This comes at a time when the country is discussing stricter stablecoin rules under the second phase of its Digital Asset Basic Act.

Why Tether is Taking This Preemptive Measure

South Korea is one of the world’s biggest crypto markets, with a large number of people actively trading digital assets. The country is now working on new stablecoin rules under the second phase of its Digital Asset Basic Act.

Under the proposed law, foreign stablecoin companies may be required to open a local branch or business before offering their tokens in South Korea. Experts believe Tether’s new trademark filings could be an early move to prepare for these possible rules.

The timing is important because Circle, the company behind USDC, also filed similar trademarks in South Korea last year as competition between stablecoin companies grows. Circle has already filed 11 local trademarks and increased USDC’s market share by 10%.

Meanwhile, Tether has now increased its filings to seven active trademarks, which could help protect its brand as it plans to grow its business in South Korea.

Tether Moves Beyond Trading Use

Tether is trying to build a new image in South Korea, moving beyond just crypto trading and aiming to become part of the country’s broader financial system.

The company is also focusing on South Korea’s large export industry, where businesses regularly send money across borders. Tether sees this as a chance to offer faster and easier payments by using blockchain instead of traditional banking systems like SWIFT.

Earlier this year, Circle CEO Jeremy Allaire visited South Korea and met with major banks and crypto exchanges to discuss possible partnerships.

Thus, these filings also show that major stablecoin companies are not only competing in crypto trading but also for future roles in global payments, banking, and digital finance.