"Stablecoins will become core payment infrastructure… South Korea should remove negative views" [Eastpoint Seoul 2025]

Suehyeon Lee

Summary

At a global Web3 conference, industry leaders emphasized the rapid evolution of stablecoins and mentioned their expansion into the institutional market.
In the panel discussion, it was stated that stablecoins are driving innovation in simplifying payment settlement and auditability and transparency, and at least $10 trillion in funds are expected to move.
It was advised that Korean regulators should remove negative views and view the stablecoin and blockchain industry objectively.

Ashok Venkateswaran, Head of Digital Assets, Mastercard Asia-Pacific (APAC) (left) and Sergio Melo, Head of Stablecoins, Anchorage Digital (right), are taking part in a panel discussion at the global Web3 private conference 'Eastpoint: Seoul 2025 (hereafter Eastpoint)' held on the 22nd at the Grand Hyatt Seoul in Yongsan-gu, Seoul. /Photo=Hwang Duhyun, Bloomingbit reporter

As stablecoins rapidly expand from retail into institutional markets, industry leaders discussed the current state of stablecoins and the attitude Korean regulators should adopt.

At the global Web3 private conference 'Eastpoint: Seoul 2025 (hereafter Eastpoint)' held on the 22nd at the Grand Hyatt Seoul in Yongsan-gu, Seoul, Ashok Venkateswaran, Head of Digital Assets, Mastercard Asia-Pacific (APAC), and Sergio Melo, Head of Stablecoins, Anchorage Digital, discussed the current situation and future of stablecoins in a panel discussion.

Venkateswaran said, "Stablecoins are evolving very quickly. The biggest challenge is how to on-ramp and then off-ramp back to fiat," adding, "Especially in Asia, local stablecoins exist in various countries such as Hong Kong, Singapore, Japan, and Australia, making the exchange structure complex. Companies like Mastercard can enter the market and solve these problems."

Melo said, "In the past, stablecoins were used for retail payments in emerging markets, but now they are expanding into institutions from lending to custody," and predicted, "As regulations are put in place, institutional funds in the trillions of dollars will flow centered on stablecoins." He added, "Stablecoin innovation happens in simplifying payment settlement and securing auditability and transparency," and projected, "At least $10 trillion will move into stablecoins within the next five years."

There was also advice that Korean regulators should view stablecoins and the blockchain industry more objectively. Venkateswaran said, "(The South Korean government) should view the stablecoin and blockchain markets objectively without prejudice," and added, "Only by removing negative views toward blockchain can we move toward innovation."