South Korean crypto exchanges hemorrhaged 560.3 billion won, approximately $367 million, in net stablecoin outflows during June 2026. That figure, reported by the Financial Supervisory Service (FSS) and covered by Yonhap News on August 2, represents just the latest monthly installment in what has become a slow-motion capital migration spanning a year and a half.
The outflows have now persisted for 18 consecutive months. Since January 2025, cumulative net stablecoin outflows from South Korea’s five major exchanges have reached roughly $10.4 billion, or 14.92 trillion won.
Where the money is going
June’s numbers paint a clear picture of directional flow. Outbound stablecoin transfers totaled 2.7625 trillion won, while inbound transfers came in at just 2.2022 trillion won. The gap, roughly 560 billion won, continued a pattern that has become almost mechanical in its consistency.
The destinations are telling. South Korean investors are funneling dollar-denominated stablecoins toward offshore derivatives trading platforms, decentralized finance protocols, real-world asset products, and overseas equity markets.
