Stablecoin Outflows from South Korea Reach $10.8 Billion
A net outflow of approximately 14.9 trillion won ($10.8 billion) in stablecoins has been recorded from South Korean exchanges over the past 18 months, according to data released by People Power Party lawmaker Lee Jong-wook.
The largest share of this outflow came from Upbit, with net withdrawals of 9.0914 trillion won ($6.6 billion), followed closely by Bithumb at 2.6502 trillion won ($1.9 billion).
This trend suggests a growing preference among domestic traders for international platforms, which often offer a wider range of trading pairs and less stringent regulatory oversight.
The most significant monthly net outflow occurred in February 2025, reaching approximately 1.2049 trillion won ($872.7 million), coinciding with heightened volatility in global cryptocurrency markets and increased regulatory scrutiny in South Korea.