South Korea’s five major won-based crypto exchanges recorded 560.3 billion won, about $367 million, in net stablecoin outflows to overseas platforms in June 2026. Summary 18 consecutive months of stablecoin outflows ended June with 560.3 billion won leaving South Korea. June transfers sent 2.7625 trillion won overseas and returned 2.2022 trillion won to Korean exchanges. Reported uses include overseas derivatives, RWA products, DeFi and staking services unavailable on Korean exchanges. The figure extended the country’s uninterrupted outflow run to 18 months.The figures came from Financial Supervisory Service data submitted to People Power Party lawmaker Lee Jong-wook and reported by Yonhap News on Aug. 2. Upbit, Bithumb, Coinone, Korbit and Gopax sent 2.7625 trillion won in stablecoins abroad during June. They received 2.2022 trillion won from overseas exchanges. South Korean stablecoin outflows reach 560.3 billion won The latest monthly total continued an uninterrupted net-outflow streak that began in January 2025, when the available data series started. Every month since then, stablecoin withdrawals to foreign exchanges have exceeded deposits returning to the five Korean platforms. June’s net outflow rose from 477.1 billion won in May but remained below January’s 1.1429 trillion won. The monthly figures show persistent outward movement despite substantial changes in the amounts transferred. The gap also remained large during the second quarter. Between April and June, net stablecoin outflows reached 1.6872 trillion won. During the same period, Korean retail investors recorded 1.6185 trillion won in net sales of overseas stocks, according to Korea Securities Depository figures cited by Yonhap. In June alone, overseas stock purchases exceeded sales by $472.54 million, or about 722 billion won using the month’s average exchange rate. Stablecoin net outflows therefore equaled 77.6% of Korean investors’ net overseas stock purchases. However, the comparison does not prove that both flows involved the same investors or strategies. Overseas derivatives appear to drive stablecoin demand The report said the transferred stablecoins are “believed to be used mainly” for products unavailable on domestic exchanges. These include crypto and equity derivatives, tokenized real-world assets, decentralized finance services and staking products. Some overseas platforms offer futures and other leveraged products linked to cryptocurrencies and major Korean stocks, including Samsung Electronics, SK Hynix and Hyundai Motor. However, the FSS figures track transfers between exchanges rather than each wallet’s final activity. The proposed connection to specific products remains an estimate, not a transaction-by-transaction finding. The overseas shift comes as domestic trading activity has weakened. Crypto.news reported that trading volume across the five major won exchanges fell 54.6% year over year during the first half of 2026. Lower local activity provides context, although the available data does not establish it as the cause of the overseas transfers. Investor protection pressure meets delayed legislation Lee called for faster safeguards, saying investors were “being left defenseless against high-risk derivatives on foreign exchanges.” He asked the government to review its investor protection and management framework as more funds move offshore. South Korea is already working on broader digital asset rules. At a March 4 Virtual Asset Committee meeting, the Financial Services Commission discussed exchange internal controls, security standards, strict compensation duties and possible rules for stablecoin issuers. The commission said it planned further consultations before legislation moved forward. However, the details remain unsettled. In January, the FSC cautioned that major provisions covering stablecoin issuers and ownership structures had not been finalized. More recently, as crypto.news reported, the regulator told lawmakers it intended to prepare a consolidated Digital Asset Basic Act covering stablecoins, exchanges, disclosures and operational controls. The next monthly exchange data will show whether July extended the outflow streak to 19 months. Regulators may also face pressure to distinguish ordinary cross-border transfers from flows connected to leveraged derivatives, DeFi and other higher-risk services. For now, the June figures document movements between Korean and overseas exchanges. They do not identify individual users, destination platforms or final investments. Any policy response will depend on further regulatory reviews and progress on the Digital Asset Basic Act.
