Software Developer Polaris Office Joins South Korea’s Stablecoin Craze

Key Points

1. Polaris Office has applied for trademarks for a KRW-pegged stablecoin named POLAKRW, covering categories like cryptoasset programs, electronic finance, and blockchain-based services.

2. Polaris Office already operates a cryptoasset named Polaris Share (POLA), listed on exchanges like Bithumb, and has launched a USD-based swap pool for PayPal’s PYUSD stablecoin.

3. BNK Financial Group, operator of Busan Bank, has registered over 20 stablecoin-related trademarks, including 10 for Busan Bank and four for Gyeongnam Bank.

4. Stablecoins are viewed by Polaris Office as a key component in the transition to web3, with plans to integrate POLAKRW into its sharing platform.

5. The Open Blockchain/DID Association (OBDIA), which includes Busan Bank, is involved in stablecoin-related initiatives, indicating institutional adoption in South Korea.