USDC Surges on South Korean Exchanges as Traders Seek Dollar Hedge Amid Currency Volatility

South Korean cryptocurrency exchanges are experiencing unprecedented demand for USD-pegged stablecoins, driven by the US dollar's rally and new arbitrage opportunities. Major platforms like Korbit and Coinone have launched trading campaigns with substantial USDC rewards, signaling a strategic shift toward dollar-denominated crypto assets.

This trend highlights a change in trader behavior—while traditional safe havens such as gold and equities dominate conventional markets, crypto investors are increasingly turning to stablecoins like USDC as a hedge against currency volatility. Current trading volumes indicate this MOVE is more about pragmatic capital preservation than speculative positioning.

Market infrastructure is adapting quickly. Initiatives like Korbit's zero-fee USDC trading and Coinone's weekly 8,000 USDC reward pool show how exchanges are capitalizing on dollar demand despite South Korea's strict capital controls, effectively creating workarounds where direct fiat gateways are limited.