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Proposed South Korean legislation setting rules for digital-asset issuance and trading, including who may issue won-pegged stablecoins.
Korean companies paid about $620 million in stablecoins between 2021 and September 2026, Allium data show, through affiliates and partners abroad. Whether that flow returns once Seoul's stablecoin bill arrives depends most on small exporters whose foreign buyers asked to pay this way.
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Korea will open its token securities market in February while the stablecoin bill needed for on-chain settlement still has no committee hearing date. Until stablecoins are linked to the securities ledger, overseas buyers must convert currency and remit through banks to buy Korean tokens.
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Upbit's parent gets Visa's network and a shortlist that includes an unlaunched consortium dollar coin. There is no launch date yet, because Seoul's draft law may reserve won-stablecoin issuance for bank-controlled groups.
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Global turnover in Japan's yen stablecoin ran $64,571 the day before Upbit listed it and $32.49 million three days later. Korea's own stablecoin law is still stalled, so the token trades there as ordinary crypto.
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Korea's Digital Asset Basic Act debate has narrowed to which sectors may issue won stablecoins. The Seoul Economic Daily wants entry opened to any firm that meets eight duties covering reserves, custody, redemption and verification.
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