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25% of South Korean Adults Now Own Crypto – What’s Driving the Growth?
A record-breaking surge in trading volume has led to a significant increase in the adoption of cryptocurrencies, with a staggering 25% of South Koreans aged 20-50 now owning digital assets. The unprecedented interest in the market can be attributed to the recent election of President Lee Jae-myung, whose administration is expected to fuel further growth.
The Bank of Korea’s announcement to allow small firms to issue stablecoins has also triggered an influx of new investors into the space. Under the proposed plan, companies with at least 500 million won ($430,000) in equity will be permitted to create their own stablecoins, a move that is expected to further fuel the growth momentum.
The surge in trading volume and ownership among retail investors has led to a rally in crypto-linked stocks, with Kakao Pay and LG CNS surging over 100% and 70%, respectively. Other digital asset-related shares have also seen substantial gains, including Aton and ME2ON, which have risen by more than 80%.
Source: ambcrypto.com
