WaveBridge "Korea emerging as Asia's strategic hub for digital assets"

Corporate- and institution-focused digital asset financial infrastructure firm 'WaveBridge' suggested in a report released on the 3rd that Korea could, with spot Bitcoin ETFs and Korean won stablecoins as catalysts, expand beyond a retail powerhouse into regulated financial infrastructure.

According to the report, since the implementation of the Specific Financial Information Act in 2021, Korea has established a real-name deposit and withdrawal account system and has been regarded as a global best practice in anti-money laundering and investor protection. Currently, domestic digital asset investors number about 9.7 million (32% of the population), more than four times the global average (6.8%).

WaveBridge viewed spot Bitcoin ETFs as a key gateway to entering the regulated sector. Domestic digital asset trading volume reaches 1,345 trillion won annually, and ETF managers have accumulated experience in a market worth 170 trillion won. WaveBridge estimated that by 2030 the domestic spot Bitcoin ETF market could reach up to 63 trillion won.

In addition, Korean won stablecoins were cited as a key pillar that could lead innovation in payments and remittance infrastructure. The report analyzed that rapid adoption is possible if the large domestic quick-payment ecosystem combines with an investor base founded on real-name accounts. However, the Bank of Korea's approach to pursuing a central bank digital currency (CBDC), coordination with privately led stablecoins, and the establishment of system risk management frameworks were cited as challenges to be addressed.

WaveBridge said, "Korea already has a world-class retail base," and "If the institutionalization of Bitcoin ETFs and stablecoins becomes full-fledged, it will establish itself as a strategic hub in Asia."