Tether has filed seven trademark applications in South Korea, including the company name and logo. This may be related to preparations to operate in the local market.
USDT remains the largest stablecoin, and Tether is gradually strengthening its presence in various areas, including international transfers and the Asian market.
At the same time, South Korea is becoming one of the main points of competition between the largest stablecoin issuers.
Tether and Circle Prepare to Compete for the South Korean Market
Recent Tether applications appeared in the database of the Korean Intellectual Property Rights Information Service KIPRIS.
Previously, the company mainly registered only individual products related to stablecoins in the country. Now, it is about the Tether brand itself and the gold-backed stablecoin Tether Gold (XAUT).
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This step seems logical in light of the upcoming Digital Asset Basic Act. It is expected that foreign stablecoin issuers will be able to officially operate in South Korea only if they have a local subsidiary. It appears that Tether is preparing in advance for these requirements.
At the same time, Circle, which issues USDC, is also increasing its activity. Back in April, company CEO Jeremy Allaire visited Seoul, where he met with representatives of KB Financial Group, Shinhan Financial Group, and Hana Financial Group.
During the talks, they discussed the use of stablecoins in payment infrastructure and the development of the tokenized asset market.
Circle also does not hide its interest in the South Korean market. The company has already mentioned the possibility of opening a local branch and obtaining a license if regulators allow foreign issuers to operate.
In parallel, Circle has started cooperating with the country’s largest crypto exchanges. This refers to Dunamu, which operates Upbit, and the exchange Bithumb. The companies plan to expand USDC integration in the local market.
Interest in stablecoins in South Korea already goes far beyond crypto exchanges. For example, Hana Card launched a pilot service for foreign tourists back in the spring. Users can pay for purchases via USDC thanks to a partnership with Circle and Crypto.com.
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In addition, BC Card and KB Kookmin Card are testing their own solutions for stablecoin payments.
Tether Expands Beyond Asia
Tether is also entering other areas at the same time. Recently, the company invested in LemFi, a service for international transfers between the US, Europe, Canada, countries in Africa and Asia.
They want to use USDT for regular transfers between countries, so that money arrives faster and without long banking delays through SWIFT.
Tether CEO Paolo Ardoino said that the company wants to expand access to financial services for an audience that already numbers about 585 million users worldwide. Tether also currently has the financial resources for such expansion.
In the first quarter of 2026, Tether earned about $1.04 billion in net profit. At the same time, the company still has about $8.23 billion in reserves above the required minimum.
South Korea also remains a very important platform for the crypto market. According to various estimates, about 18 million people use crypto there.
By mid-2025 alone, trading volume on local exchanges exceeded $663 billion, and Korean traders themselves continue to have a strong influence on the altcoin market. At the same time, local market interest has long extended beyond just USDT and USDC.
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Several local projects are already working on stablecoins pegged to the Korean won. In parallel, the Bank of Korea continues to test its own digital currency through the Project Han River project.
At the same time, the authorities have not yet decided who will be able to issue stablecoins within the country. Some officials support a model where only banks can do this. Others propose allowing licensed private companies as well. The issue is expected to be discussed in detail after the June elections.
