Crypto

Dollar stablecoin market tops 400 trillion won as Korea faces double bind on won stablecoin

The global stablecoin market has grown to about 400 trillion won, with dollar-backed tokens dominating and strengthening their position in payments and remittances. In South Korea, debate over issuers, reserve asset management and redemption is slowing progress on the Digital Asset Basic Act. Industry participants say allowing won stablecoin issuance is not enough and that viable payment use cases, liquidity, distribution channels and supporting infrastructure must be built alongside regulation.

Finance

Betting on a shaky Korean market: Are Korean retail investors going all-in on leverage?

Korean investors are continuing high-risk leveraged trading in U.S.-listed ETFs as South Korea’s stock market swings sharply, data showed. From Sept. 18 to Oct. 21, Direxion Daily Semiconductor Bull 3X Shares ETF (SOXL) ranked first in foreign securities purchases, with net buying of $2.76 billion. Demand also rose for Direxion Daily MSCI South Korea Bull 3X Shares ETF (KORU) and Nasdaq-linked leveraged products. Meanwhile, short-term risk funds and margin financing in Korea declined.