South Korean digital asset exchanges are accelerating efforts to diversify revenue as trading values fall and profitability weakens. The five biggest won-market exchanges logged $27.8 billion in trading from May 1 to 17, down from earlier months. Dunamu and Bithumb reported sharp first-quarter declines in revenue and operating profit, with trading fees accounting for nearly all sales. Exchanges are expanding partnerships, overseas ventures and Web3 infrastructure, while facing regulatory uncertainty.

With legislation on South Korea\'s Digital Asset Framework Act delayed, traditional financial firms are moving to secure a foothold in the stablecoin market. Banks and card companies are signing MOUs with global blockchain and payment infrastructure firms and conducting proof-of-concept tests. Several bills remain pending in the National Assembly, while key rules such as issuance requirements, reserve regulation and user protections are not yet detailed. Industry officials expect rivalry to intensify as delays persist.