Forecast Trend Report by Period
Jeong Eun-bo, chairman of Korea Exchange, called for faster progress in discussions on introducing stablecoins and advancing the digital transformation of South Korea’s capital markets. As global exchanges and financial platforms expand tokenized stocks and blockchain-based trading, he said Korea’s capital market also needs to adapt.
Maeil Business Newspaper reported on June 22 that Jeong made the remarks at a foreign media briefing held that day at the Korea Press Center in central Seoul. “Discussions on adopting stablecoins need to move forward if we are to avoid falling behind the global trend in decentralized finance,” he said.
He added that he hopes various transactions using stablecoins can be introduced in South Korea’s capital market.
Jeong said digital transformation is also linked to the medium- to long-term survival of traditional exchanges. He cited efforts by Robinhood and Kraken to pursue tokenized trading of Nvidia and Tesla shares, and noted that Nasdaq is also preparing stock tokenization trading.
With blockchain-based digitization advancing rapidly, Korea Exchange cannot remain confined to its existing exchange model, he said. The bourse needs to attract liquidity from overseas investors and find a role suited to the era of decentralized finance.
Jeong also called for discussions on a won-based stablecoin. He said the US is leaning toward privately issued stablecoins, while China and Europe are pursuing policy approaches centered on central bank digital currencies, or CBDCs.
From the exchange’s standpoint, discussions on stablecoin adoption need to advance so it can respond to the global shift in digital finance, he added.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
