South Korea has seen stablecoin outflows abroad for 18 months

Stablecoins are leaving South Korea at a rapid pace. For eighteen consecutive months now, more stablecoins have been flowing out of the country’s five largest crypto exchanges to foreign platforms than coming in. In June 2026 alone, that net outflow amounted to approximately $367 million.

In short:

• South Korean exchanges saw a net outflow of 560.3 billion Korean won in stablecoins to foreign platforms in June 2026.
• Since January 2025 there has been a net outflow every month, amounting to eighteen consecutive months.
• The funds are presumably being used for crypto and equity derivatives, RWA products, DeFi and staking, services that are not available on domestic exchanges.

Monthly figures show a pattern

According to data shared by South Korean lawmaker Lee Jong, based on figures from the financial regulator FSC, the five major won exchanges sent a total of 2.7625 trillion won in stablecoins to foreign platforms in June 2026, while 2.2022 trillion won came back. On balance, 560.3 billion won left the domestic system, equivalent to roughly $367 million.

The table accompanying the data shows that the outflow was even larger in early 2025. In January 2025, the net outflow amounted to more than 1.09 trillion won, and in October 2025 it even reached 1.16 trillion won, the highest point in the measurement period. Since then, the volume has declined, but the direction remains the same: month after month, more flows out than comes in, according to Yonhap News Agency.

Why are stablecoins leaving South Korea?

According to analysts, the reason behind the structural outflow is fairly clear: Korean exchanges simply do not offer the products many users are looking for. Foreign platforms provide access to crypto and equity derivatives, so-called real world assets (RWA), DeFi protocols and staking, all services that are barely or not at all available on the domestic market due to strict local regulations.

This pattern does not stand alone. Major exchanges elsewhere in the world are also seeing significant stablecoin outflows. For example, Binance has already faced an outflow of $7 billion in stablecoins this year. The question is whether the South Korean government will adjust regulations to offer users more local options, or whether the outflow will simply continue in the coming months.