[Opinion] Stablecoins Should Be Seen as 'Opportunities', Not 'Fears'

Kim Seo-joon, CEO of Hashed

Technology has always emerged amidst controversy but has ultimately led the world in a better direction. When email and mobile messengers first appeared, new technologies were often subject to regulation due to difficulties in control. However, over time, it became clear that the social benefits and progress brought by technology far outweighed such concerns.

Currently, the Korean won-based stablecoin is at the center of debate. Various concerns are raised, such as money laundering risks and impacts on monetary policy. However, it should not be overlooked that stablecoins are a means for governments to manage financial flows more transparently.

Transactions conducted on the blockchain are traceable in real-time and cannot be tampered with. In the United States, USDC has already been used to freeze and recover illegal funds. It can be a much more powerful policy enforcement tool than cash.

The global financial ecosystem is rapidly being reorganized based on blockchain. In the flow where asset tokenization, digital securitization, and global payment settlements are conducted on the blockchain, if the Korean won is not connected to this network, it will inevitably be structurally marginalized.

Singapore is strengthening its position as an Asian financial hub through 'StraitsX', and Japan has completed a legal framework for yen-based stablecoins to encourage participation from major financial companies. Hong Kong is building a digital payment system through the 'e-HKD' project, and the European Union (EU) has included a euro stablecoin framework in its virtual asset regulation bill (MiCA). These movements show that digital currency sovereignty has become a key element of future financial competitiveness.

The Korean won stablecoin is also closely connected to the Security Token Offering (STO) market. If a digital financial infrastructure is established that allows global investors to directly invest in Korean content industries such as K-pop and K-drama, Korea can secure new global leadership in content finance.

In the absence of a Korean won stablecoin, domestic users alternatively use foreign currency-based stablecoins such as Tether (USDT) and USDC. This creates a dual structure where usage occurs but institutional supervision and control do not function.

It should be recognized that institutionalizing and managing Korean won-based stablecoins is much more effective in terms of preventing money laundering and forming a sound distribution order. The perspective of viewing technology not as fear but as a possibility, and as a tool for transparent supervision beyond control, is needed at this point in time.

When new technologies like stablecoins are appropriately institutionalized and embraced, a financial ecosystem suitable for the digital asset era can be established.