Upbit's support for KRW stablecoin could be Korea's gateway to global finance: CEO

Dunamu, the operator of Korea's largest cryptocurrency exchange Upbit, has revealed ambitions to become a central player in the development of Korean won-pegged stablecoins, stating that its support could help elevate Korean finance onto the global stage. At the Upbit D Conference (UDC) 2025, held Tuesday at the Grand InterContinental Seoul Parnas, Dunamu CEO Oh Kyoung-suk emphasized that the success of a stablecoin hinges on the distribution capabilities of a cryptocurrency exchange. "When you look at the market capitalization of dollar-based stablecoins, their performance has been noticeably stronger when distributed by major asset exchanges," Oh said. For instance, the market capitalizations of USDT, issued by Tether, and USDC, issued by Circle, stand at 230 trillion won ($165.8 billion) and 90 trillion won, respectively. In contrast, PYUSD, despite being issued by payment giant PayPal, has reached only 1.6 trillion won. Oh highlighted Upbit’s trading infrastructure as a key advantage. The exchange has recorded a cumulative spot trading volume of 1,740 trillion won, with 12 millionWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times