The push to bring virtual assets into the regulatory framework is rapidly reshaping Korea’s fintech and venture capital landscape. With the government moving to classify blockchain-based asset trading firms as venture businesses and to institutionalize Korean won-backed stablecoins, a flurry of strategic responses is emerging across the industry.
The Ministry of SMEs and Startups recently proposed legislative changes that would recognize crypto trading platforms as eligible venture companies. Meanwhile, the Financial Services Commission is pursuing regulatory reforms that would raise the cap on financial holding companies’ investments in fintech firms from 5% to 15%. Additionally, a plan to allow acquisitions of PG (payment gateway) companies to facilitate market entry is under discussion. These measures collectively aim to lay the groundwork for a next-generation payment infrastructure powered by stablecoins.
Fintech firms and venture capital players have been quick to respond. Leading digital payment companies like Kakao Pay, NHN KCP, and Toss have filed trademarks related to stablecoins, signaling an emerging race to stake early claims. These moves have already driven short-term gains in their stock prices.
At the same time, smaller PG companies that fall short of capital requirements are emerging as prime acquisition targets. Venture funds are increasingly evaluating these firms as springboards for launching blockchain-based payment systems. The strategy of “acquire PG, expand into stablecoin settlement” is gaining traction.
Globally, firms such as PayPal, Visa, and Stripe are already piloting payment systems using stablecoins like USDC and PYUSD. In contrast, Korea remains in a preparatory phase, highlighting the urgency for timely regulatory and market responses.
Industry experts see this moment as a critical turning point for Korea’s digital finance sector. They stress the importance of securing regulatory clarity, addressing AML (anti-money laundering) and security risks, and building interoperability frameworks. If these conditions are met, stablecoins could mark a significant breakthrough in the evolution of Korea’s fintech infrastructure.
