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International Business Times
International Business Times
World
Marvie Basilan

S. Korea's Won Passes USD As Country's Most Used Currency In Crypto Trading: Research

Crypto United States South Korea Kaiko Cryptocurrency Binance Bitcoin Upbit
South Korean 10,000 won note is seen on U.S. 100 dollar notes in this picture illustration taken in Seoul. (Credit: Reuters)

KEY POINTS

  • The South Korean won posted $456 billion in trading volume, compared to the USD's $445 billion
  • Upbit still takes up majority of the market share, but competition from Bithumb is picking up
  • Rising competition and improving macroeconomic conditions helped boost crypto trade in South Korea

The South Korean won was the most used currency for cryptocurrency trading in South Korea during the first quarter of the year, passing the popular U.S. dollar, the latest data showed.

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