Markets· ★★★· neutral·

Kaiko and Upbit: Korean won accounts for about a quarter of global fiat crypto volume

  • —Won accounts for about 25% of global fiat crypto volume; USD leads at 48.70%
  • —Slippage on a 10 million won buy on Upbit is typically 0.005–0.02%
  • —Korea remains fiat-native: KRW pairs dominate, stablecoins play a secondary role
  • —A won stablecoin's opportunity lies in on-chain settlement, cross-border payments and DeFi
Why it matters: Korea is the second-largest fiat crypto market, and a won stablecoin could narrow the premium and deepen liquidity.
Source: ChainCatcher 链捕手
More on this
Markets · Oct 5
Kaiko: EUR fiat pairs dominate euro crypto trading as EUR stablecoins hold just 7.46%
 Exchanges · Sep 17
Upbit lists JPYC stablecoin with first Korean won pair
 Markets · Sep 25
Asia-Pacific accounts for half of Global Crypto Adoption Index