Tether, the company behind the USDT stablecoin, has reportedly filed new trademark applications in South Korea as the country works on rules that could require overseas stablecoin issuers to build a local presence.
According to ChosunBiz, a South Korean business newspaper, Tether filed seven trademarks in Korea, including the company's name, its logo and Tether Gold, the gold-backed token known as XAUT.
The filings were made through KIPRIS, the Korean Intellectual Property Rights Information Service.
South Korea is working on new crypto rules, with lawmakers and financial regulators reportedly discussing whether foreign stablecoin issuers should open a local branch before distributing stablecoins in the country.
- Circle, the company behind USDC, also filed a South Korean trademark last December.
- Circle founder and CEO Jeremy Allaire also visited Korea in April and met local financial groups and signed partnership agreements with Korean crypto exchanges Upbit and Bithumb.
- The Coinformer earlier reported that Tether is also in talks with one of El Salvador's largest fuel suppliers to test stablecoin payments at gas stations.