KBank Advances Stablecoin Wallet Plans Ahead of IPO Push

Trademark filings show KBank is preparing wallet services tied to payments, remittances, and cross-border crypto use.

South Korean neobank KBank is moving deeper into digital assets as it prepares to go public. Recent trademark filings suggest plans to launch stablecoin wallet services. More so, the timing comes as banks begin to position for the growing global tilt towards crypto assets.

Trademark Filings Suggest Wallet Services Beyond Asset Storage

As captured by Korea Intellectual Property Rights Information Service (KIPRIS), KBank sent in 13 trademark applications tied to stablecoin wallets. Some of the names submitted  include KSC Wallet and KSTA Wallet. 

Meanwhile, KStable Wallet and KBank SC Wallet were also submitted for approval. The firm filled separate trademark applications in July last year. 

KIPRIS classifications show the trademarks span several categories. Coverage includes software for blockchain currency and stablecoin transactions. At the same time, the classification includes crypto mining tools, NFT programs, and financial services. 

According to local media reports, wallet functions may extend beyond storage and stretch into support for payments, remittances, and settlements.

The move comes as KBank prepares its third attempt at an initial public offering. Two earlier IPO plans were withdrawn in 2023 and 2024 due to market conditions. Current plans target a listing on KOSPI, according to News1.

KBank Builds Stablecoin Finance System With Regional Partners

In its IPO measure, KBank said proceeds would support growth areas, including digital asset services. Stablecoin tools appear central to that strategy, especially as regulation becomes clearer.

Planned wallet features, based on trademark scope and reports, point to a broad service model:

• Support for stablecoin transfers used in daily payments.
• Cross-border remittance functions aimed at lower fees.
• Integration with merchant payment systems.
• Settlement tools for retail and financial partners.

International expansion also plays a role. KBank recently signed a partnership with local blockchain firm BPMG, Thailand’s Kasikorn Bank, and Orbix Technology. Group plans to build a stablecoin-based finance system serving tourists and Thai workers in South Korea.

Policy changes add further context. South Korean lawmakers are working on rules covering stablecoins and crypto ETFs, with final measures expected in the first quarter. Banks and exchanges have already begun product planning.

KBank may stand to gain from these shifts. It remains the sole banking partner of Upbit, the country’s largest crypto exchange. Since that partnership began in 2020, KBank’s user base has grown more than 500% to about 15 million users.

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