Korea's Missing Corporate Crypto Market: A $62 Billion Opportunity
Korea's crypto market is one of the most active globally, accounting for around 30% of global trading volume by fiat currency in recent years. However, despite high trading volumes, the market still relies heavily on retail investors due to regulatory limitations on corporate participation.
The lack of corporate demand has limited the industry's ability to move into its next stage of growth. Institutional investors account for more than 80% of Coinbase's trading volume, making institutional demand a core part of the market in the US. In contrast, Korea has generated substantial trading volume but corporate demand remains largely absent.
Corporate account access could broaden the market's demand base and support its next stage of growth. A report by Tiger Research estimates that corporate crypto assets under management could reach up to KRW 82 trillion by 2030. Trading, custody, and prime brokerage could also create about KRW 570 billion in annual revenue.
The delays in corporate account access are already pushing Korean demand and business opportunities offshore. Overseas markets are supporting a wide range of crypto businesses, including payment and settlement infrastructure companies such as Rain, BVNK, and Mesh. If this trend continues, companies operating overseas will build not only customer bases and revenue but also business relationships and operating experience.