A South Korean government official has reportedly disclosed that around 10% of the country’s domestic trade transactions are conducted using stablecoins, specifically Tether (USDT). 

Ki Young Ju, founder of CryptoQuant, disclosed this today. The report highlighted the growing use of stablecoins in South Korea’s trade and noted that traders find stablecoins appealing due to their low fees, fast transaction speeds, and bypassing South Korea’s strict foreign exchange regulations. 

Moreover, using stablecoins, traders avoid SWIFT costs, currency conversion fees, and delays associated with traditional methods. 

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