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09/08/2026

South Korean Stablecoins Could Save Merchants Up to $3.8B Annually, Budget Office Finds

What happened: South Korea’s National Assembly Budget Office released a report estimating that won-denominated stablecoins could reduce merchant payment fees by as much as KRW 5.

South Korean Stablecoins Could Save Merchants Up to $3.8B Annually, Budget Office Finds

What happened: South Korea’s National Assembly Budget Office released a report estimating that won-denominated stablecoins could reduce merchant payment fees by as much as KRW 5.15 trillion (~$3.8 billion) per year. Current card fees average 1.3–1.5%, while stablecoin-based payments could lower this to 0.1–0.3%. The report also warns of risks, including potential bank deposit outflows and peg instability during mass redemptions.

Why it matters: The projected savings are substantial, but hinge on widespread adoption and regulatory clarity. The report’s upper estimate is 14 times the lower bound, reflecting significant uncertainty. Policymakers remain divided: the Bank of Korea favors stablecoins issued by traditional financial institutions, while the Financial Services Commission supports broader participation. The Digital Asset Basic Act, which could set the rules for stablecoins, is still under review.

Source: CoinDesk, Crypto Briefing