News

According to ChainCatcher, the Web3 user-generated content (UGC) platform Tomoland has announced the completion of a $2 million funding round, led by Sky9 Capital, with participation from WAGMI Ventures, Aureus Dealers, and angel investors from Meta, Depinx Capital, Netease, and Virtuals. The new funds are intended to support the development of a system that combines user-generated content with Web3 ownership, and to promote the integration of the gaming ecosystem with the Web3 economy.

According to South Korea's KIPRIS, Tether has filed seven trademark applications, including for the "tether" logo and "tether gold." The Digital Asset Basic Act may require overseas stablecoin issuers to set up Korean subsidiaries, with Tether seen as leading ahead of Circle. Circle CEO Jeremy Allaire has stated that South Korea is one of the world's most dynamic virtual asset markets. (chosun)

BlockBeats news, May 19, Tether is accelerating its push into the South Korean market. According to the crypto industry, as the company applies for trademark rights in South Korea including the company name and logo, there are speculations about the possibility of establishing a Korean branch in the future. Recently, Tether has submitted a total of 7 trademark applications in South Korea, including the “Tether” brand logo and its gold-pegged stablecoin “Tether Gold.” In the past, the company mainly registered trademarks in South Korea related only to stablecoin product names, but this time it has expanded to cover the brand and logo. Industry insiders believe this could mean Tether is laying the groundwork for business operations in the Korean market. Analysts have pointed out that as South Korea’s Digital Asset Basic Act (the second phase of the virtual asset law) is progressively implemented, overseas stablecoin issuers may need to establish local branches if they wish to operate in the country. Thus, Tether’s move is seen as a preemptive step, acting faster than rival Circle. Circle CEO Jeremy Allaire visited South Korea this April, meeting with financial holding companies and crypto exchanges to discuss possible collaborations. He said at the time: “South Korea is one of the world’s most vibrant crypto markets and one of the countries most likely to develop a mature stablecoin market in the future.”