Korea’s Tokenized Asset and Stablecoin Market Outlook

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• Korea’s crypto market wants to maneuver past its reliance on buying and selling charges and rebuild round tokenized property (RWA) and stablecoins.

• Primarily based on international forecasts scaled to the scale of Korea’s financial system, the home market is projected to succeed in KRW 360 trillion (about $253 billion) by 2030: KRW 315 trillion in tokenized property and KRW 45 trillion in stablecoins.

• Forward of the 2027 regulatory rollout, main monetary establishments similar to Shinhan, KB, Hana, and Kyobo Securities are constructing infrastructure, taking fairness stakes, and forming international partnerships, laying the groundwork for a KRW 360 trillion market.

Korea’s crypto market has stopped rising as a result of it is determined by buying and selling quantity and price revenue, whereas international markets are shifting towards tokenized property (RWA) and stablecoins that convey conventional monetary property on-chain.

As of the primary half of 2026, Korea had 11.18 million tradable crypto accounts, equal to greater than 20% of the inhabitants, however the quantity grew solely 0.4% from the earlier half. Common every day buying and selling quantity fell from KRW 7.3 trillion (about $5.1 billion) within the second half of 2024 to KRW 3.1 trillion (about $2.2 billion) within the first half of 2026. Progress constructed on buying and selling has reached its limits.

Account projections present that even in probably the most optimistic Bull situation, the variety of accounts in 2030 could be solely about 13% greater than in 2026. The market subsequently wants new sources of development past buying and selling charges: tokenized real-world property (RWA) and stablecoins used for fee and settlement.

This report examines the outlook for tokenized property (RWA) and stablecoins, a market by which conventional monetary property themselves transfer on-chain.

In its February 2023 report “The Opening of the Token Securities Era,” Hana Institute of Finance estimated Korea’s token securities market at KRW 367 trillion (about $258 billion) by 2030, together with actual property, primarily based on BCG’s 2022 international forecast. As a result of that evaluation depends on older knowledge, the estimate must be revised to mirror present market tendencies and BCG’s new 2026 forecast.

Tiger Analysis recalculated the scale of Korea’s tokenized asset market utilizing BCG’s newest 2026 report and present financial indicators. It additionally added the stablecoin market, which the Hana Institute of Finance estimate didn’t cowl, utilizing a worldwide forecast from Commonplace Chartered.

The principle sources and assumptions behind the worldwide forecasts are as follows.

1. Tokenized property: In accordance with BCG’s International Asset Administration Report 2026 (middle-of-the-road situation), the worldwide market capitalization of tokenized real-world property (RWA) is projected to develop from $2.3 trillion in 2027 to $14 trillion in 2030. The figures cowl authorities bonds, company bonds, securitized debt, cash market devices, commodities, listed shares, and options, and exclude actual property and stablecoins. These property at the moment whole lower than $25 billion.

2. Stablecoins: Primarily based on Commonplace Chartered’s October 2026 estimate, international stablecoin provide is projected to develop from about $309 billion immediately to $2 trillion by 2030. Figures for 2027 to 2029 are interpolated assuming compound annual development of about 60%.

3. Home market dimension method: international market forecast × Korea’s share of worldwide GDP (1.58%) × KRW/USD alternate price (KRW 1,422.44).

By 2030, tokenized property are estimated at KRW 315.0 trillion (about $221.5 billion) and stablecoins at KRW 45.0 trillion (about $31.6 billion).

The KRW 360 trillion determine for 2030 is the potential market dimension if Korea’s share of worldwide tokenization matches its share of the world financial system. Precise development might differ relying on when the implementing rules below the Digital Securities Act and the Capital Markets Act are finalized and how broadly they permit tokenization.

Korea’s monetary sector is adapting shortly as digital property enter the regulatory framework. In January 2026, the token securities payments (amendments to the Digital Securities Act and the Capital Markets Act) handed the Nationwide Meeting, with implementation set for February 2027. The Monetary Providers Fee has additionally introduced that standardized securities similar to personal MMFs and company bonds offered solely to institutional buyers would be the first allowed to be tokenized.

Main conventional monetary establishments are constructing infrastructure and testing it in follow forward of the brand new guidelines. Their response may be grouped into 4 areas.

• Sector infrastructure and pilots: Securities corporations are specializing in issuance and distribution infrastructure for token securities (STO), whereas banks, card firms, and insurers are working fee and settlement proofs of idea (PoCs) utilizing KRW stablecoins and tokenized deposits.

• Strategic fairness stakes: Monetary establishments have invested about KRW 2.35 trillion (about $1.7 billion) in stakes in crypto exchanges, and the entry of regulated monetary capital is intensifying competitors for market management.

• Shift towards conventional monetary property: Corporations are transferring away from fractional funding in non-standard property similar to actual property and artwork, the place profitability was restricted, towards tokenizing conventional monetary property with giant issuance volumes and current liquidity.

• Tokenization of standardized securities and high-value real-world property: Corporations are competing to tokenize not solely standardized securities similar to authorities bonds, company bonds, and personal MMFs, but in addition real-world property that retain worth, similar to mental property (IP) and wine.

Korean monetary establishments are working with international blockchain and know-how firms to make their techniques interoperable with international networks and to check infrastructure that meets regulatory necessities.

Shinhan Monetary Group has partnered with Solana, Visa, and Etherfuse; KB Monetary Group with Securitize, Canton, and BNY; Hana Monetary Group with BitGo; and the Kyobo group (Kyobo Life and Kyobo Securities) with Ripple, Circle, and SBI. Via these partnerships, Korean establishments are constructing techniques that work with international requirements.

These partnerships are prone to be a significant factor available in the market reaching KRW 360 trillion by 2030. Korea’s crypto market is making ready to maneuver previous fee-driven stagnation, and that transition will depend upon constructing infrastructure and compliance techniques in time for the 2027 regulatory rollout.

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