Seoul Economic Daily reported that more than half of global transactions have been taking place in Korea since the Japanese yen stablecoin, JPYC, was listed on Upbit. According to CoinMarketCap, as of 9:15 AM on this day, JPYC trading volume on Upbit over the past 24 hours accounted for 54.18% of the total global spot trading volume. This means one out of every two JPYC transactions worldwide occurred in Korea. While the institutionalization of Korean Won coins is delayed domestically, Korea is becoming a liquidity provider for JPY coins, following dollar stablecoins like Tether (USDT).
