"The volume of domestic stablecoin transactions in the first quarter of this year nears ₩57 trillion"
Summary
- It was reported that in the first quarter of this year, the total volume of stablecoins traded on the five major domestic virtual asset exchanges reached about ₩57 trillion.
- Among the stablecoins traded, USDT accounted for the highest proportion, representing 83.1%% of the total.
- A stablecoin is a virtual asset that maintains price stability by being pegged to legal tender such as the US dollar.
In the first quarter of this year, the value of stablecoins traded on domestic virtual asset (cryptocurrency) exchanges reached approximately ₩57 trillion.
According to data submitted by the Bank of Korea to Cha Kyu-geun, a member of the Cho Kuk Innovation Party affiliated with the Strategy and Finance Committee of the National Assembly, as of the 2nd, the total transaction amount of three types of dollar-denominated stablecoins—USDT, USDC, and USDS—traded on the five major domestic virtual asset exchanges (Upbit, Bithumb, Korbit, Coinone, Gopax) in the first quarter was tallied at ₩56,953,700,000,000.
USDT accounted for the largest share at ₩47,331,100,000,000 (83.1%), followed by USDC at ₩9,618,600,000,000 (16.9%). USDS was at the level of ₩4,100,000,000 (0.01%).
Stablecoins are virtual assets designed to maintain price stability by being pegged to legal tender such as the US dollar.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
