South Korea has solidified its place as Asia’s best-performing market in 2025, thanks to an unprecedented boom in cryptocurrency trading and adoption. According to recent data, the country’s crypto trading volume is forecast to reach an astonishing $663 billion this year, making the Korean won the world’s second-most-used fiat currency for crypto transactions trailing only the US dollar. This surge is driven by a combination of retail enthusiasm, regulatory clarity, and robust technological infrastructure.
The scale of South Korea’s crypto market is nothing short of remarkable. The $663 billion trading volume not only underscores the country’s dominance in Asia but also positions it as a global powerhouse, with daily trades frequently topping $12 billion. Major domestic exchanges like Upbit and Bithumb have been instrumental in this growth, catering to a vast user base and facilitating high-frequency trading activity.
As of early 2025, more than 16 million South Koreans—about 32% of the nation’s population hold accounts with domestic crypto exchanges. This figure surpasses the number of individual stock investors in the country, highlighting a significant shift in investment preferences from traditional equities to digital assets. The momentum accelerated after the US presidential election in late 2024, with over 500,000 new crypto accounts opened in just a few week. Industry insiders even speculate that the number of crypto users could reach 20 million by the end of 2025, further cementing South Korea’s status as a crypto-first society.
South Korea’s crypto surge is not only reshaping its domestic financial landscape but also influencing global digital asset trends. With the won now the second-most-used currency in crypto trading, the country’s regulatory and technological models are being closely watched by other nations seeking to balance innovation with investor protection.
The market’s rapid expansion is expected to continue, driven by ongoing adoption, regulatory evolution, and the introduction of new financial products. However, experts caution that further growth will require exchanges to enhance user education, security, and compliance measures to address the challenges of a maturing market.
