Korean Stablecoin Outflows Hit $367 Million

South Korea's stablecoin outflows continued in June, reaching $367 million (560.3 billion won). This marks an uninterrupted net-outflow streak of 18 months, starting from January 2025.

The five major won-based crypto exchanges, Upbit, Bithumb, Coinone, Korbit, and Gopax, sent a total of 2.7625 trillion won in stablecoins abroad during June, while receiving 2.2022 trillion won from overseas exchanges.

According to the report, the transferred stablecoins are 'believed to be used mainly' for products unavailable on domestic exchanges, including crypto and equity derivatives, tokenized real-world assets, decentralized finance services, and staking products.