South Korea Stablecoin Liquidity Crashes 55% as Won Hits 16-Year Low — Retail Rotates to Equities
Stablecoin balances on South Korea's five largest crypto exchanges dropped 55% since July 2025 — from $575 million to $188 million — as the won weakened past 1,500 per USD (a 16-year low). Traders are converting stablecoins to won and redeploying into domestic equities (KOSPI rose 75% in 2025, +37% YTD). The rotation accelerated in mid-March amid Strait of Hormuz energy supply concerns impacting Asian markets.