Stablecoin outflows from Korea to overseas exchanges topped 500 billion won ($346 million) in June, even as the crypto market underwent a correction, an opposition lawmaker said Sunday. The amount reached a level comparable to Korean investors’ net purchases of overseas stocks. The persistent flow of funds abroad to access high-risk derivatives, real-world assets (RWA) and decentralized finance (DeFi) services unavailable in Korea is raising new concerns over investor protection and foreign-exchange management. According to data provided by the Financial Supervisory Service (FSS) to Rep. Lee Jong-wook of the main opposition People Power Party, stablecoins worth 2.76 trillion won were transferred from the five domestic crypto exchanges — Upbit, Bithumb, Coinone, Korbit and Gopax — to overseas exchanges in June. That compared with 2.2 trillion won in stablecoins transferred from overseas exchanges to domestic platforms, resulting in a net outflow of 560.3 billion won. That was equivalent to 77.6 percent of Korean investors’ net purchases of overseas stocks in that month, according
Rising stablecoin outflows raise investor protection, FX concerns
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