Tether and Circle are intensifying their presence in Korea as lawmakers delay stablecoin regulations, with USDC gaining market share on major exchanges.
Tether and Circle are accelerating their expansion in South Korea amid delays in stablecoin legislation. The government’s proposed Digital Asset Basic Law would require foreign stablecoin issuers to establish local branches for domestic distribution. In parallel with this regulatory backdrop, USDC’s market share has risen to over 10% on major Korean exchanges. Tether’s recent hiring push, including PR, blockchain investigation, and government relations roles, reflects preparations for compliance and market growth in the country.