[비즈한국] It has been confirmed that table-order service provider Torder recently filed trademarks related to stablecoins, but has put its cryptocurrency-related business on hold. Last year, Torder signed a strategic memorandum of understanding (MOU) with the blockchain platform 'Sui' with the goal of building a blockchain-based payment infrastructure. Although the company presented a blueprint for applying blockchain technology and virtual assets to its payment process, it has effectively delayed these plans amid an uncertain environment.
On December 23, 2025, Torder filed a number of trademarks in the form of stablecoin tickers (abbreviations). According to the Korean Intellectual Property Office's IP information system, the 11 filed trademarks include 'TTWON', 'TODKRW', 'KRWTO', 'KRWTORDER', 'WONTT', 'TTKRW$', 'KRWTT', 'TORDERKRW', 'TTKRW', 'TOKRW', and 'KRWTOD'. These are combinations of 'WON' and 'KRW', representing the Korean currency, with 'TOD' (Torder).
The product classifications are classes 09, 36, and 42, and the designated goods include cryptocurrency hardware wallets, blockchain application software platforms for digital asset trading, blockchain-based digital asset supply services, cryptocurrency electronic transfer services, cryptocurrency brokerage, cryptocurrency electronic storage, and software development using blockchain technology.
Torder is a tablet menu service provider founded in 2019 and is the leader in the table-order industry. Customers can place orders and make payments using Torder tablets installed at tables in restaurants, golf courses, bowling alleys, etc. The company has over 300,000 tablets installed nationwide, and its cumulative payment volume exceeds 10 trillion won. In 2024, it successfully secured over 30 billion won in investment through a Series B funding round.
In September 2025, the company expanded its reach into the virtual asset sector. It signed an MOU with blockchain platform Sui to commercialize stablecoin infrastructure. Sui developer Mysten Labs was founded by former Meta developers, and Sui was developed with the goal of mass blockchain adoption.
At the time of the MOU, Torder announced plans to build a real-time blockchain-based payment infrastructure by incorporating technologies such as QR code payments and facial recognition payments into its nationwide network. There were also expectations that it could significantly reduce card and payment gateway (PG) transaction fees.
However, despite the preparations, the coin-related business has come to a halt. When asked about whether they would issue a stablecoin and the current status of their collaboration with Sui, a Torder official stated, "Both the collaboration with Sui and the coin issuance project have been put on hold," adding, "There is nothing currently in progress." This is interpreted as an adjustment of pace due to continuing uncertainties, such as the time required for the introduction of regulations regarding Korean won-pegged stablecoins.
After establishing itself in the domestic table-order market, Torder attempted to diversify its business. In September 2024, it acquired Indecore Business Platform, the operator of the hotel service platform 'iStay', and changed its name to 'Torder Stay'. The move was aimed at creating synergies, such as providing Torder restaurant information to hotel guests or linking with nearby commercial areas through Torder Stay. The company has also entered overseas markets. It established a Canadian subsidiary in 2023 and a U.S. subsidiary in 2024, and has expressed ambitions to enter Asian and European countries in the future.
The company is also active in R&D investment. In 2024, it opened a Gangnam R&D office and declared its transition into an AI infrastructure technology company. At the time, Torder explained, "We are pursuing ways to maximize profitability through R&D investment and operational efficiency and cost reduction using AI technology. We have significantly expanded our R&D infrastructure by opening an additional Gangnam office to secure technical talent and strengthen collaboration." Since April 2025, the company has been seeking Series C funding to strengthen its R&D capabilities and develop new businesses.
Recently, the focus has shifted toward AI adoption. According to media reports, Torder is preparing to launch an AI service for self-employed individuals that analyzes order data accumulated through table-orders to provide store operation reports. On January 5, it also filed a trademark for 'AI Order'.
However, profitability has deteriorated during the business expansion process. Torder's operating profit turned from a profit of 9.7 billion won in 2023 to a loss of 14.3 billion won in 2024. During the same period, net income also swung from a 2.8 billion won profit to a 25.1 billion won loss. The performance of its subsidiaries followed the same trend; all six subsidiaries—Shop Order, Check-T, Torder Donas, Torder Stay, TORDER CANADA INC, and TORDER AMERICA INC—recorded net losses in 2024.
The intensifying competition in the table-order market is also a burden. KT030200 has entered the table-order business under the name 'Hi-Order', linked to its internet services, while Toss Place, Yanolja F&B Solution, and Baedal Minjok have launched QR code-based services. An industry insider noted, "As the unmanned ordering market grows, large corporations and big tech companies are entering the fray," adding, "It may become difficult for Torder to defend its market share."