Tether Accelerates Expansion into South Korea, Submits Trademark Application for Company Name and Logo

BlockBeats News, May 19th, Tether is accelerating its entry into the Korean market. In the crypto industry's view, as the company applies for trademarks in Korea, including the company name and logo, the possibility of establishing a Korean branch in the future has also been raised.

Tether recently submitted a total of 7 trademark applications in Korea, including the "Tether" brand logo and the gold-backed stablecoin "Tether Gold." In the past, the company in Korea mainly focused on trademark registration related to stablecoin product names, but this time it has expanded to the brand and logo level.

Industry insiders believe that this may indicate that Tether is preparing the groundwork for its business in the Korean market. Some analysts point out that as Korea's "Act on the Reporting and Use of Specific Financial Transaction Information" (Virtual Asset Service Provider Act) progresses, overseas stablecoin issuers may need to establish local branches to conduct circulation business in the country. Therefore, Tether's move is seen as a proactive move, taking action earlier than its competitor Circle.

Circle CEO Jeremy Allaire visited Korea in April this year, meeting with financial holding companies and crypto exchanges to discuss potential cooperation. At that time, he said, "Korea is one of the most vibrant crypto markets globally and one of the countries most likely to develop into a mature stablecoin market in the future."