South Korean firms conduct $620 million in stablecoin payments abroad
- —Volume of stablecoin payments by Korean companies abroad — about $620 million since 2021
- —Hyundai and Hyundai Card conducted a $20,000 USDT transfer between the US and Mexico
- —POSCO International tokenized trade receivables
- —The digital asset law is stalled over disputes about won stablecoin issuers
Why it matters: Without domestic regulation, the infrastructure and expertise of Korean companies are being anchored abroad, weakening the country's position in stablecoin settlements.
Source: Bloomingbit