The adoption of stablecoins, particularly Tether (USDT), is increasing in South Korea and benefiting the financial market. Around 10% of domestic trade transactions in the country now involve stablecoins, with smaller traders and business owners attracted to their reduced transaction times and lower fees. USDT, which holds a 72% market share through the Tron network, is the leading stablecoin in South Korea due to Tron's speed and low transaction fees compared to Ethereum. The transition from Ethereum to Tron for USDT transfers started in 2021 and has continued to grow. Stablecoins are seen as a cost-effective and efficient solution, especially for small traders and individual business owners who face limitations with corporate accounts for such transactions. The market capitalization of the top stablecoins has shown different trends, with USDT steadily growing and reaching over $120 billion by October 2024. USDC remains the second-largest stablecoin, while BUSD has experienced a decline, possibly due to regulatory actions.



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