Catenaa, Sunday, July 13, 2025-South Korean software developer Polaris Office has entered the country’s growing market for Korean won-pegged stablecoins by filing trademarks for a new token called POLAKRW.
This move comes amid a surge of interest from banks, fintech firms, and IT companies racing to launch stablecoin projects as Seoul prepares to introduce new regulations.
Polaris Office, best known for its office software suite, submitted 102 trademark applications to the Korean Intellectual Property Office.
These filings cover three main areas: computer software and crypto programs, electronic finance and crypto brokerage services, and blockchain technology development.
Already active in the crypto sector, Polaris operates Polaris Share (POLA), a cryptocurrency listed on platforms such as Bithumb. The company recently added a USD-based swap pool for PayPal’s PYUSD stablecoin, signaling broader ambitions in digital finance.
A Polaris spokesperson described stablecoins as foundational to the web3 transition, linking data, payments, and contracts, with plans to develop new markets and a knowledge-sharing platform centered on POLAKRW.
Meanwhile, BNK Financial Group, operator of Busan Bank, has applied for 25 stablecoin trademarks, including for Busan Bank and Gyeongnam Bank. Busan Bank recently joined the Open Blockchain/DID Association’s Stablecoin Division, where members are discussing a platform for stablecoin issuance.
South Korea’s new President Lee Jae-myung, who took office last month, is expected to advance legislation on stablecoins in the coming weeks, marking a significant regulatory step for the sector.
