South Korean Stablecoin: Digital Won Challenging USDT?

Stablecoins are heating up the South Korean market as $19.6 billion worth of stablecoins left the country in Q1 2025 (March 28, 2025), prompting the Bank of Korea (#BOK ) to develop a publicly linked blockchain deposit token. With USDT and USDC dominating, this move opens up opportunities for a competitive digital won!

Stablecoins and New Trends

Deputy Governor Lee Jong-ryeol warns that the flow of private stablecoins, with Tether accounting for 70% of the global market share, could undermine South Korea's monetary sovereignty. In response, the BoK is building a blockchain-based deposit token that directly competes with USDT and #USDC . This token, backed by the won, ensures financial stability and transparency, leveraging blockchain technology for fast transactions and low fees. According to Chainalysis (2024), South Korea has 1.8 million crypto users, with $500 million in stablecoin transactions each quarter, indicating significant potential.

Attractive Investment Opportunities

The digital won token could attract investors due to its stability and support from the BoK. Stablecoins currently account for 10% of the global crypto market capitalization (Statista, 2025), with USDT and USDC leading due to their liquidity. TradingShot predicts that stablecoins will grow by 20% in Q4/2025, especially if South Korea successfully implements the won token. The Blockchain Seoul 2025 conference is an opportunity to monitor this trend.

The information in this article is for reference only; please conduct thorough research (DYOR).