Korbit Research Head Says Asset Tokenization Is Irreversible, Urges Faster Push on Won Stablecoins

Korbit research head Kim Min-seung warned that South Korea risks losing capital to overseas markets unless it accelerates the development of a won-denominated stablecoin ecosystem. Speaking at the Digital Asset Investment Insight Forum 2026, Kim highlighted that the global financial landscape is shifting toward on-chain infrastructure, a movement currently dominated by the United States. The on-chain real-world asset market is valued at $30 billion, with US Treasuries currently comprising half of that total. Kim emphasized that the upcoming October launch of stock tokenization services by the Depository Trust & Clearing Corp. (DTCC), involving major players like BlackRock and Nasdaq, marks a pivotal institutional shift. Unlike previous derivative-based crypto tokens, these new services are backed by SEC no-action letters and provide formal rights. The US strategy aims to preserve dollar hegemony by integrating stablecoins with Treasury reserves, creating a comprehensive on-chain super-app ecosystem. Kim urged South Korean regulators to modernize their approach to avoid being sidelined as global capital migrates to these more efficient, US-led on-chain markets.