South Korean government official: 10% of South Korea's trade transactions use stablecoins

Foresight News reported that according to the Korea Economic Daily, the current Foreign Exchange Transactions Act in South Korea imposes strict regulations on foreign exchange transactions, making the advantages of stablecoin transactions in trade transactions increasingly prominent. A South Korean government official said, "It is estimated that 10% of domestic trade transactions are conducted through stablecoins." This means that a large amount of stablecoins traded on South Korean cryptocurrency exchanges are used as a means of payment for imports and exports in trade transactions.