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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.
Crypto
Singapore crypto market jumps 55 percent, led by institutional trading
Singapore’s cryptocurrency economy was estimated at $284 billion, up 55.4 percent over a year, diverging from a 6.8 percent contraction in the Central and Southern Asia and Oceania region. Growth was led by institutional platform activity, which rose 94 percent to $60 billion and was concentrated among a small number of market makers, OTC firms and institutional brokerages. Elsewhere in Southeast Asia, smaller P2P transfers and stablecoin use stood out.
Crypto
Stablecoin payment card volume tops $1 billion in August, hits records for volume, transactions and users
Stablecoin-based crypto payment cards hit monthly records in August for transaction value, number of payments and users. Payment volume reached $1.076 billion, marking a second straight month above $1 billion. Payments totalled about 10.67 million and active addresses rose to more than 283,000. RedotPay led by value and transactions. Growth was notable in emerging markets, while activity remained concentrated in a few programs and the overall market stayed small.
