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South Korea’s five largest won-based crypto exchanges recorded 560.3 billion won, about $367 million, in net stablecoin transfers to overseas platforms in June.
The total marked the 18th consecutive month in which transfers to foreign exchanges exceeded incoming stablecoins, according to data collected by the Financial Supervisory Service.
Five Exchanges Sent 2.76T Won Overseas in June
Upbit, Bithumb, Coinone, Korbit and Gopax sent 2.7625 trillion won in stablecoins to overseas exchanges during June. The five platforms are South Korea’s largest won-based crypto trading venues.
The same exchanges received 2.2022 trillion won from foreign platforms, leaving a monthly net outflow of 560.3 billion won. June’s figure increased from 477.1 billion won in May but remained below the 1.1429 trillion won recorded in January.
Net Stablecoin Outflows Reached 14.92T Won in 18 Months
The FSS data shows net stablecoin outflows in every month since the available series began in January 2025. Transfers leaving South Korean exchanges exceeded incoming stablecoins by 14.9246 trillion won over the full 18-month period, averaging 829.1 billion won a month.
Between April and June, net outflows reached 1.6872 trillion won. That was slightly higher than the 1.6185 trillion won in net sales of overseas stocks recorded by Korean investors during the same quarter.
The two figures measure different activity and do not establish that the same investors were involved.
FSS Data Does Not Show How Transferred Stablecoins Were Used
The transferred assets are believed to include USDT and USDC purchased with won before being moved abroad. Overseas platforms offer derivatives, staking, decentralized finance services and tokenized assets that may be unavailable or restricted on South Korean exchanges.
The FSS figures track transfers between exchanges but do not identify individual users, destination platforms or the final use of the tokens. They therefore cannot establish how much of the outflow funded derivatives, investment products or other offshore activity.
People Power Party lawmaker Lee Jong-wook, who obtained the figures, called for stronger investor safeguards as more funds move to overseas platforms. The next monthly release will determine whether the net outflow streak continued into July.
