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06/23 10:03

South Korea has seen cryptocurrency-based overseas

#World Cup Predictions: 100,000 USDT Daily #HTX Invites You to Share 600K USDT in Gift Packs #BTC Prophet: 20-Day 380 Million HTX Challenge South Korea has seen cryptocurrency-based overseas remittances climb 380% in the past three years, outpacing growth in traditional bank transfers as financial institutions increase their focus on blockchain-powered payment services. Summary Cryptocurrency remittances through South Korea’s five largest won based exchanges have climbed 380% since 2022, reaching 163.55 trillion won last year. Overseas transfers through South Korea’s five major banks grew 20% over the same period, totaling about 1,590 trillion won in 2025. South Korean banks are expanding their focus on stablecoins and blockchain payments as the country prepares to launch a regulated virtual asset transfer framework in December. According to a SBS Biz report, remittances processed through South Korea’s five largest won-denominated cryptocurrency exchanges rose from 34.02 trillion won ($26.2 billion) in 2022 to 163.55 trillion won ($125.8 billion) last year. The figures were cited from data provided by the office of Congressman Kim Sang-hoon. The report showed that foreign currency remittances handled by the country’s five major commercial banks reached 1.108 trillion dollars in 2025. Based on the annual average exchange rate, that amounted to about 1,590 trillion won. In 2022, the same banks processed 1.009 trillion dollars, equivalent to roughly 1,318 trillion won, resulting in growth of about 20% over the three-year period. Hwang Seok-jin, a professor at Dongguk University’s Graduate School of International Information Protection, told SBS Biz that lower transaction costs may have encouraged consumers to use cryptocurrency platforms instead of banks for overseas transfers. The broadcaster reported that a customer sending $20,000, about 30 million won, through a commercial bank would pay a remittance fee of roughly 25,000 won (app

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