Tether [USDT] is reportedly making an Asia bet, with new trademark filings found in South Korea.
Additionally, the stablecoin giant has also expanded its presence around Bitcoin [BTC], with a stake in Twenty One Capital.
Tether’s push for a KRW stablecoin
Tether has filed seven trademark applications with South Korea’s KIPRIS database. The spotlight is on two names in particular – KRWT and WONTETHER. Both clearly indicate the Korean won, which is why markets are reading them as a sign.
The filings are under Classification 09, a category that covers software and crypto-related digital products. Alongside the won-linked names, Tether also filed trademarks for Tether Gold [XAUT], QVAC, USDT0, USAT, and its shield logo.
Now, Tether has not confirmed any launch plans yet, so this is merely speculation.
The timing lines up with USDT’s dominance in the market. Over the last month, USDT supply has expanded by more than $5 billion, while rivals like USDC, USDe, and PYUSD collectively shrank by roughly $4.2 billion. Even as overall stablecoin market growth slowed down, Tether continued to gain share.
Tether invests in BTC treasury company XXI Capital
Tether International has also taken full control of Twenty One Capital, after acquiring SoftBank Group’s entire stake in the company. In fact, SoftBank’s board members have stepped down, leaving Tether with uncontested control.
Twenty One Capital is one of the world’s largest public Bitcoin holders, with more than 43,500 BTC on its balance sheet. That’s worth around $4 billion.
The deal value has not been disclosed so far.
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