PANews reported on July 7 that according to Yonhap News Agency, BNK Financial Group, a financial holding company headquartered in South Korea, announced that its affiliated companies BNK Financial Holdings, Busan Bank and Gyeongnam Bank are submitting trademark applications related to the Korean won stablecoin. BNK Financial Holdings has submitted 11 trademark applications, Busan Bank and Gyeongnam Bank have submitted 10 and 4 respectively. In addition, Busan Bank and Gyeongnam Bank have joined the Open Blockchain and Decentralized Identifier Association (OBDIA), which is preparing to issue bank-backed stablecoins.