Tether Expands into Asia with South Korea Trademark Filings and XXI Capital Acquisition

Tether, one of the largest stablecoin issuers, has taken a significant step towards expanding its presence in Asia. The company has filed seven trademark applications in South Korea with the KIPRIS database.

The filings are under Classification 09, which covers software and crypto-related digital products. Among the trademarks applied for, two names stand out: KRWT and WONTETHER. These names appear to be linked to the Korean won, leading some to speculate that Tether may launch a KRW-pegged stablecoin.

While Tether has not confirmed any launch plans, the timing is noteworthy. In recent weeks, USDT supply has increased by over $5 billion, while rival stablecoins have seen their supplies decrease.

In another move to expand its presence in the crypto market, Tether International has acquired full control of Twenty One Capital, a company that holds one of the largest public Bitcoin treasuries. The acquisition gives Tether control of more than 43,500 BTC, worth around $4 billion.