Asia Crypto Update: China P2P Stablecoin Wallets Jump 43x

Crypto activity across East Asia is expanding in uneven ways: regulators tighten the rails for exchanges and services, while on-chain demand for

• China-linked peer-to-peer stablecoin wallets have seen a 43x increase, with significant transaction volume, indicating active use as working capital despite regulatory constraints.
• South Korea remains the largest crypto economy in East Asia, but its exchanges are experiencing a sharp decline in profits and trading volume, contrasting with China's P2P stablecoin growth.
• Across the region, regulatory frameworks, institutional partnerships, and tokenization initiatives (e.g., in Hong Kong, Japan, and South Korea) are shaping crypto adoption, with a focus on compliance and custody solutions.

Topics: Jurisdictions, Blockchain usage, Institutional adoption, Emerging hubs, Ethereum evm l 1 s, Asset manager initiatives

Tags: #china #stablecoin #p2ptransfers #chainalysis #southkorea #hongkong #tokenization #custody #licensing #institutionaladoption

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Naver Pay, Seoul Exchange to Enter South Korea's Unlisted-Stock Token Securities Market Simultaneously in February

Naver Pay and Seoul Exchange are moving to enter the token securities distribution market based on unlisted stocks, timed to coincide with token…

• Naver Pay and Seoul Exchange are preparing to enter South Korea's tokenized securities market for unlisted stocks in February, coinciding with new legislation.
• Both companies will leverage existing over-the-counter brokerage infrastructure to distribute tokenized equity securities to retail investors.
• The move aligns with South Korea's regulatory framework, which treats tokenized securities similarly to traditional financial products, focusing on the underlying rights rather than the issuance form.

Topics: Asset types, Legal regulatory, Institutional adoption, Alternative assets, Securities law classification, Asset manager initiatives

Tags: #naverpay #seoulexchange #tokensecurities #unlistedstocks #southkorea #stolegislation #retailinvestors #otcbrokerage #capitalmarketsact #financialservicescommission

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China’s P2P stablecoin wallets surge 43x, Korea’s $450B crypto economy: Asia Express

China has seen a massive surge in peer-to-peer stablecoin use, even as bans continue. South Korea’s crypto economy is worth now worth $450B despite exchange profits falling 78%.

• China has experienced a 43x surge in P2P stablecoin wallet usage despite existing crypto restrictions, with stablecoins treated as working capital.
• South Korea's crypto economy is valued at $450B, but exchanges face declining profits and trading volumes, while Securitize partners with LG CNS for tokenization infrastructure.
• Several Asian hubs like Singapore and Hong Kong are advancing crypto and tokenization initiatives, including institutional custody services and licensing frameworks, while Japan sees increased DEX usage.

Topics: Jurisdictions, Institutional adoption, Blockchain usage, Emerging hubs, Banking depository pilots, Ethereum evm l 1 s

Tags: #china #stablecoin #southkorea #securitize #lgcns #tokenization #singapore #standardchartered #hongkong #japan

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China warns foreign spies about crypto, Singapore dominates Asia: Asia Express

China warns would-be foreign spies crypto isn’t as anonymous as they think and that authorities are watching the blockchain. South Korea finally warms up to crypto market makers.

• China's Ministry of State Security has issued a warning against foreign spies using cryptocurrencies, stating that transactions are traceable on the blockchain and are not as anonymous as perceived.
• Singapore's crypto activity surged by 55.4% to $284 billion, outperforming a regional contraction and solidifying its position as a major crypto hub, largely driven by institutional activity.
• South Korea is considering a market-making system for digital assets to improve efficiency and stability, following a significant price deviation of a yen-backed stablecoin due to limited liquidity.

Topics: Jurisdictions, Legal regulatory, Blockchain usage, Emerging hubs, Regulatory sandboxes pilots, Enforcement actions litigation, Ethereum evm l 1 s

Tags: #china #crypto #espionage #spies #blockchain #singapore #southkorea #marketmakers #stablecoin #binancepay

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KakaoPay Joins Dinari and Ondo to Pilot Tokenized Korean Stocks

South Korea’s Kakaopay Securities has announced two separate partnerships with tokenization firms Dinari and Ondo Finance aimed at bringing tokenized

• KakaoPay Securities is partnering with Dinari and Ondo Finance to pilot the tokenization of Korean-listed stocks, aiming to provide international investors with access to these assets.
• The initiative focuses on preserving shareholder rights like dividends and voting, and establishing robust sourcing and custody frameworks, rather than just price-tracking tokens.
• The project's commercial rollout is contingent on legal and regulatory approvals in South Korea, with a new regulatory framework for tokenized securities set to take effect in February 2027.

Topics: Asset types, Jurisdictions, Institutional adoption, Equity, Emerging hubs, Asset manager initiatives

Tags: #kakaopay #dinari #ondofinance #tokenizedstocks #koreanequities #shareholderrights #custody #regulatoryapproval #southkorea #dshares

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MoonPay Targets South Korea as Stablecoin Adoption Accelerates

MoonPay launches Korea operations, targeting won stablecoins, cross-border payments and digital asset infrastructure across Asia.

• MoonPay has launched its Korean subsidiary to serve as a hub for Asian expansion, focusing on won stablecoins and cross-border payments.
• The company plans to partner with major Korean financial institutions like Woori Bank, KB Financial Group, and KakaoBank to integrate its digital asset infrastructure with local payment systems.
• MoonPay will provide the underlying infrastructure for stablecoin issuers rather than issuing its own won-denominated stablecoin, navigating South Korea's evolving digital asset regulations.

Topics: Jurisdictions, Infrastructure providers, Integration with defi, Emerging hubs, Tokenization platforms, Rwa collateral lending

Tags: #moonpay #southkorea #stablecoins #crossborderpayments #digitalassetinfrastructure #wonstablecoins #remittances #financialinstitutions #assettokenization #regulatoryapproval

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Asset managers roll out digital-asset ETFs overseas. What about South Korea?

South Korean asset managers are launching exchange-traded funds overseas that highlight stablecoins, tokenisation and bitcoin, while the domestic market has yet to list spot digital-asset ETFs or products branded around such themes. In South Korea, exposure is mainly gained by including related companies in existing overseas equity ETFs. Firms are also expanding digital-asset initiatives, including tokenising ETF products and building blockchain partnerships, as they prepare for possible regulatory changes.

• South Korean asset managers are launching digital asset-focused ETFs overseas, including those related to stablecoins, tokenization, and Bitcoin, while the domestic market lags behind.
• Domestically, exposure is indirect, achieved by including related companies in existing ETFs, but firms are preparing for potential regulatory shifts by tokenizing products and building blockchain partnerships.
• There's an expectation of increased competition if spot digital-asset ETFs and token securities become a reality in South Korea, leveraging existing infrastructure and overseas experience.

Topics: Asset types, Institutional adoption, Integration with defi, Stablecoins digital cash, Asset manager initiatives, Rwa collateral lending

Tags: #southkorea #etfs #stablecoins #tokenization #bitcoin #digitalassets #assetmanagers #overseasproducts #regulatorychanges #rwa

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BNK-EverTreasure deal expands South Korea’s tokenized securities ahead of 2027

South Korean brokerage BNK Investment & Securities has signed a strategic memorandum of understanding with cultural-finance fintech EverTreasure, teaming up to build fractional

• BNK Investment & Securities and EverTreasure have partnered to develop tokenized securities backed by cultural assets like films, musicals, and artworks, ahead of South Korea's regulated market opening in February 2027.
• BNK will manage issuance, distribution, and compliance, while EverTreasure will source assets and handle blockchain integration, leveraging its existing YEATU platform.
• This strategic move positions BNK to capitalize on the growing tokenized asset market by focusing on unique cultural intellectual property as underlying collateral.

Topics: Asset types, Jurisdictions, Institutional adoption, Alternative assets, Emerging hubs, Asset manager initiatives

Tags: #tokenizedsecurities #southkorea #culturalassets #bnkinvestmentsecurities #evertreasure #fractionalinvestment #fintech #regulatoryframework #art #films

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How XRP Is Filling the Cash Gap: South Korea Debuts Stock Market on the XRP Ledger as Ripple Expands

In a move to meet demand for faster, cheaper, and more transparent digital asset infrastructure, Ripple continues to expand globally, positioning XRP as a core settlement asset.

• South Korea's Financial Services Commission (FSC) is launching a tokenized securities market on the XRP Ledger, starting with privately placed corporate bonds and money market funds.
• This initiative aims to transition the country's capital market to 24/7 trading, with Ripple's strong existing collaborations in the region making it a key beneficiary.
• The move signifies an expansion of tokenized assets beyond real estate and royalties to include traditional securities like stocks, bonds, and funds, leveraging XRP's efficiency for cross-border transactions and DeFi integration.

Topics: Asset types, Jurisdictions, Integration with defi, Financial instruments, Emerging hubs, Rwa collateral lending

Tags: #xrpledger #southkorea #ripple #tokenizedsecurities #stockmarket #financialservicescommission #fsc #crossbordertransactions #defi #xrp

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Metaplanet Equity Fallout as SE Asia Crypto Funding Doubles

Japanese Bitcoin treasury company Metaplanet is facing renewed shareholder criticism after it continued expanding an executive share option pool that

• Metaplanet faces shareholder backlash over executive stock options diluting Bitcoin treasury strategy, highlighting tensions in corporate crypto holdings.
• Southeast Asia's crypto funding doubled to $680 million in 2026, with Singapore leading in companies and funding, though deal volume decreased.
• Regulatory developments include Gemini's payment license in Singapore, South Korea's tokenized securities roadmap, and enforcement actions in the US and India.

Topics: Institutional adoption, Jurisdictions, Legal regulatory, Asset manager initiatives, Established hubs, Emerging hubs, Regulatory sandboxes pilots, Securities law classification

Tags: #metaplanet #bitcointreasury #shareholdercriticism #dilutionconcerns #southeastasia #cryptofunding #singapore #gemini #tokenizedsecurities #southkorea

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South Korea orders residents to report overseas crypto even if exchange fails

South Korea’s National Tax Service has clarified that residents holding cryptocurrencies on foreign exchanges are required to declare those assets under | Bitget crypto news!

• South Korea's National Tax Service mandates that residents must report overseas crypto assets, even if the exchange has failed or access is blocked.
• The disclosure obligation applies to accounts exceeding 500 million won, regardless of the exchange's operational status or the user's ability to access funds.
• This ruling highlights the complexities of valuing frozen crypto assets and precedes the country's scheduled crypto gains tax in 2027.

Topics: Jurisdictions, Legal regulatory, Compliance, Cross jurisdictional policy, Enforcement actions litigation, Aml antimoneylaundering, Kyc proof of identity

Tags: #southkorea #nationaltaxservice #cryptocurrency #foreignexchanges #disclosurerules #bankruptcy #taxation #digitalassets #assetreporting #ftx

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South Korea Aims to Tokenize Its Entire Stock Market: The Plan Already Has a Date

Licensed securities firms will be able to operate without additional procedures. Retail investors o

• South Korea's Financial Services Commission (FSC) has unveiled a three-phase roadmap to tokenize its entire stock market, aiming for full blockchain integration by 2027.
• The plan will initially focus on private placement funds and corporate bonds, expanding to all publicly offered securities, and eventually settling transactions directly on the blockchain using stablecoins.
• The FSC has established investor protection measures, including purchase limits for retail investors, and existing securities firms can operate with tokenized assets under current licenses.

Topics: Asset types, Jurisdictions, Legal regulatory, Financial instruments, Established hubs, Securities law classification

Tags: #southkorea #tokenization #stockmarket #securities #blockchain #financialservicescommission #fsc #retailinvestors #stablecoins #2027

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South Korean Lawmaker Proposes Delaying Crypto Tax to 2029, Citing Infrastructure Gaps

BitcoinWorld South Korean Lawmaker Proposes Delaying Crypto Tax to 2029, Citing Infrastructure Gaps A South Korean lawmaker has introduced a bill that would

• A South Korean lawmaker has proposed delaying the country's planned cryptocurrency taxation from 2027 to 2029.
• The rationale behind the delay is the perceived inadequacy of current tax infrastructure to monitor decentralized transactions and the lack of a global framework for sharing virtual asset data.
• This proposal highlights ongoing debates within the ruling party and the National Assembly regarding the regulation and taxation of the digital asset market, with implications for investors and industry growth.

Topics: Legal regulatory, Jurisdictions, Scalability, Securities law classification, Regulatory sandboxes pilots, Market depth liquidity

Tags: #southkorea #cryptotax #taxationdelay #kimsanghoon #incometaxact #decentralizedexchanges #defi #regulatoryinfrastructure #virtualassets #nationaltaxservice

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South Korea’s PPP Lawmaker Calls For Bank-Led Won Stablecoin Rollout, With Fintech Expansion Later

South Korea's PPP lawmaker Kim Sang-hoon proposes bank-led won stablecoin rollout with later fintech expansion, balancing stability and innovation.

• A South Korean lawmaker proposes a two-track strategy for won stablecoin rollout, prioritizing bank-led issuance for stability before fintech involvement.
• This approach aims to balance regulatory concerns and innovation, addressing the stalled digital asset legislation in the country.
• The proposal seeks to enhance payment efficiency and cross-border transactions, positioning South Korea as a digital finance hub.

Topics: Jurisdictions, Legal regulatory, Blockchain usage, Established hubs, Securities law classification, Ethereum evm l 1 s

Tags: #wonstablecoin #southkorea #bankledissuance #fintechexpansion #digitalassetlaw #kimsanghoon #501rule #regulatoryframework #crossbordertransactions

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Crypto(dot)com Partners With KG Inicis for Korea Tourist Payments

Under the agreement, Crypto(dot)com Pay will be integrated across the KG Inicis merchant network, covering both physical retail locations and online platforms.

• Crypto.com Pay is integrating with KG Inicis, a major South Korean payment gateway, to enable foreign tourists to use digital assets for payments across the country.
• This partnership aims to facilitate economic activity with digital assets, offering merchants settlement in fiat or digital currencies and expanding Crypto.com's reach.
• The move aligns with a broader trend of countries adopting crypto payment solutions for tourism, following similar initiatives in Bhutan and Thailand.

Topics: Payment system integration, Jurisdictions, Institutional adoption, Stablecoin payments remittances, Emerging hubs, Payment network integration

Tags: #cryptocompay #kginicis #southkorea #touristpayments #digitalassets #paymentgateway #merchantnetwork #fiatsettlement #cryptopayments #binancepay

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Cross-Chain Infrastructure Squid Joins OBDIA...South Korea strengthens stablecoin infrastructure in the banking sector

Squid, a cross-chain infrastructure company, joined the Open Blockchain Artificial Intelligence Association (OBDIA), a leading blockchain consultative body in Korea, as a member company on the 4th and..

• Squid, a cross-chain infrastructure company, has joined South Korea's Open Blockchain Artificial Intelligence Association (OBDIA), which includes major financial institutions like Shinhan Bank.
• This membership aims to enhance interoperability for won stablecoins and Real-World Assets (RWAs) within the Korean institutional digital asset market.
• Squid's existing partnerships with Ripple for its RLUSD stablecoin and its extensive cross-chain transaction processing capabilities position it to contribute to South Korea's growing digital asset ecosystem.

Topics: Blockchain usage, Integration with defi, Jurisdictions, Ethereum evm l 1 s, Rwa collateral lending, Established hubs

Tags: #squid #obdia #southkorea #stablecoin #rwa #crosschain #interoperability #shinhanbank #ripple #rlusd

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Mirae Asset Acquires Majority Stake in Korbit for Approximately $102 Million

Mirae Asset Consulting has gained majority control of the South Korean cryptocurrency exchange Korbi

• Mirae Asset Consulting has acquired a majority stake (97.15%) in the South Korean cryptocurrency exchange Korbit for approximately $95-$102 million, with Korbit to be rebranded as Digital X.
• The acquisition is part of Mirae Asset's strategy to integrate tokenization of real-world assets, security tokens, stablecoins, and traditional assets onto a single platform.
• Digital X aims to function as an infrastructure platform, leveraging Mirae Asset's financial expertise and Korbit's digital asset operations, rather than focusing solely on trading volume.

Topics: Institutional adoption, Blockchain usage, Integration with defi, Asset manager initiatives, Ethereum evm l 1 s, Rwa collateral lending

Tags: #miraeasset #korbit #digitalx #cryptocurrencyexchange #tokenization #realworldassets #securitytokens #stablecoins #southkorea

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Circle Teams Up With Kakao and Toss for South Korea USDC Push

Circle partners with Kakao and Toss to explore USDC payments, blockchain infrastructure, and stablecoin services in South Korea.

• Circle is partnering with South Korean fintech giants Kakao and Toss to expand USDC stablecoin adoption and blockchain payment infrastructure.
• The collaborations aim to explore USDC integration for payments, remittances, settlements, and digital asset connectivity within Kakao and Toss's extensive user bases.
• These moves signify Circle's strategic expansion into emerging markets, leveraging established fintech ecosystems to drive stablecoin utility and cross-border payment efficiency.

Topics: Asset types, Jurisdictions, Integration with defi, Stablecoins digital cash, Emerging hubs, Rwa collateral lending

Tags: #circle #usdc #kakao #toss #southkorea #stablecoin #payments #blockchain #fintech #remittances

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Mirae Asset Completes Acquisition of South Korean Crypto Exchange Korbit

Mirae Asset completes Korbit acquisition as the financial group expands into digital assets while keeping user services unchanged.

• Mirae Asset Financial Group has completed its acquisition of South Korean crypto exchange Korbit, becoming its controlling shareholder.
• The acquisition signifies growing institutional interest in South Korea's digital asset market and aims to connect traditional finance with blockchain technologies.
• Korbit users will experience no changes to services, deposits, or data policies following the ownership transition.

Topics: Institutional adoption, Jurisdictions, Blockchain usage, Asset manager initiatives, Established hubs, Private enterprise ledgers

Tags: #miraeasset #korbit #cryptoexchange #southkorea #digitalassets #acquisition #financialgroup #institutionalinterest #blockchain #virtualassets

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(Yonhap Interview) Fireblocks CEO highlights S. Korea's potential in digital finance

By Kang Jae-eun SEOUL, July 23 (Yonhap) -- South Korea's strong technology ecosyste...

• Fireblocks CEO Michael Shaulov sees South Korea as a prime market for digital finance evolution, particularly in stablecoin adoption and RWA tokenization.
• The company, inspired by past security investigations in Korea, is expanding its presence to support local financial institutions like NongHyup Bank and Shinhan Bank.
• Fireblocks aims to facilitate faster cross-border settlements and new forms of programmable payments by integrating digital assets into the broader financial system.

Topics: Jurisdictions, Infrastructure providers, Integration with defi, Emerging hubs, Tokenization platforms, Rwa collateral lending

Tags: #fireblocks #southkorea #stablecoins #digitalfinance #tokenization #realworldassets #financialinfrastructure #crossbordersettlement #nongnhupbank #shinhanbank

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