The actions of the major South Korean banks jumped after the stabbed deposits, signaling an increasing institutional interest in digital assets.
According to Google Finance Data, at least three South Korean banks which recently applied for Korean brands have won brands of Stablecoin have seen their prices increase by 10% to almost 20%. The market reaction suggests the optimism of investors around the potential entry of banks in the cryptocurrency sector.
The deposits intervened shortly after the inauguration of the 21st president of the country, Lee Jae-Myung, on June 4. His campaign included friendly crypto promises, including the development of a stable Korean with a stable.
The shares of the South Korean bank increase in the midst of the media of Stablecoin
Data from the World Intellectual Property Organization (WIPO) show that Kakao Bank has deposited brands linked to Stablecoin on June 23.
A day later, the share of its shares jumped at 37,000 Won Koreans ($ 27), compared to $ 22.60, an increase of 19.3%.
Kookmin Bank, a subsidiary of KB Financial Group, also asked for brands linked to the stable reserve on June 23. The actions of the group saw a modest initial gain per day after the deposit.
The course of its shares increased to $ 82 on June 24, an increase of 4.3% compared to $ 78 before the deposit.
Kookmin’s share price continued to increase. At the time of writing the editorial staff, her shares negotiated $ 89, up 13.38% since she applied for stablecoin brands.
On June 27, the Korea industrial bank also applied for Stablecoin brands, causing an increase in its shares. Bank shares are currently negotiated at $ 14.70, up 10.1% since its deposit when it was negotiated at $ 13.30.
Cointelegraph contacted Kakao Bank, Kookmin Bank and the Korean industrial bank for more information on their stablecoin plans, but had received no response by publication.
Other major banks in the country have expressed their desire to team up and launch a stablecoin fixed to the currency.
In relation: The new president of South Korea will strengthen the crypto, but the scandals prevail
The researcher says that South Korea faces a “Stablecoin bubble”
100Y, a research study for the cryptographic research company four pillars, said on X that the current situation puts in South Korea in a “Stablecoin bubble”.
Despite the lack of clear rules, the banks jumped into the stable media threw, benefiting from the increase in stock prices after having deposited brands related to the stable reserve.
The researcher added that despite the banks that rushed to capitalize on the momentum, South Korea lacks clear regulatory advice on stablecoins, creating uncertainty around long -term viability.
Review: Bitcoin vs stablecoins.
