South Korea's five leading cryptocurrency exchanges reported a 380% surge in overseas remittance volume over the past three years, outpacing the growth of traditional bank transfers and highlighting a shift toward blockchain‑enabled payment solutions.
Remittance Volume Expansion
Data from SBS Biz shows that crypto‑based remittances processed by the country’s top won‑denominated exchanges climbed from 34.02 trillion won (approximately $26.2 billion) in 2022 to 163.55 trillion won ($125.8 billion) in the most recent year. This jump reflects