Circle CEO: Plans to enter the South Korean cryptocurrency market, but currently has no plans to issue a Korean won stablecoin

According to DL News, Circle CEO Jeremy Allaire stated that the company currently has no plans to launch a won-pegged stablecoin, but is closely monitoring the progress of relevant legislation in South Korea and seeks to expand its business within the local compliance framework.

If South Korea establishes a legal pathway that allows global companies to enter, Circle is willing to apply for a license and set up a local branch, while also providing technical support for Korean institutions to issue stablecoins.