Stablecoin Adoption Surges in South Korea Amid Regulatory Limbo
South Korean companies have processed approximately $620 million (₩860 billion) in overseas stablecoin payments between January 2021 and September 2026, according to BigGo Finance. This surge comes despite the National Assembly's years-long legislative deadlock on stablecoin regulation.
The data underlines a stark reality: cross-border stablecoin payments are growing at enterprise scale in one of Asia's most technologically advanced economies. However, businesses are left without a clear legal classification for stablecoins or a dedicated licensing regime.
The GENIUS Act, proposed in the US, aims to define stablecoins as a distinct instrument class and establish federal regulations. However, South Korea remains in limbo, with no stablecoin-specific law and general crypto-asset user protection rules applying.