Heath Tarbert, President of Circle, is scheduled to meet with leading South Korean banks, including KB Kookmin and Hana, to discuss potential collaboration in the stablecoin space. At the same time, South Korea’s Financial Services Commission (FSC) plans to propose a legislative framework for stablecoin regulation in October 2025.
According to CoinMarketCap, this move could accelerate stablecoin adoption in Asia, attract institutional investors, and strengthen the digital financial infrastructure. South Korea, along with Japan, is considered a front-runner in implementing digital assets.
Meetings with Major South Korean Banks
Tarbert’s discussions with South Korean banks follow the government’s plan to issue rules regarding stablecoin issuance, collateral management, and risk control. The goal is to provide clear legal guidelines for issuing stablecoins, including the potential launch of won-backed stablecoins alongside USDC.
“Circle is committed to working with regulators and financial institutions worldwide to provide digital currency services that are transparent and compliant,” said Heath Tarbert. Market participants are optimistic that clearer regulation will boost stablecoin integration in Asia and expand the use of USDC and similar digital assets.
Regulation in Japan and South Korea Drives Adoption
Japan is also planning to introduce a yen-backed stablecoin this autumn. Together with South Korea’s measures, this signals a growing openness in Asia toward wider stablecoin adoption.
USDC Market Capitalization
Currently, Circle-issued USDC has a market capitalization of approximately USD 68.16 billion, with a daily trading volume of USD 14.44 billion. CoinMarketCap reports a 56.39% change, while USDC’s price has slightly decreased by 0.01% over the past 24 hours.
Research by Coincu suggests that regulatory clarity could accelerate institutional crypto adoption in Asia. Lessons from Hong Kong and Singapore show that similar measures can increase market liquidity and strengthen cross-border payment systems.
Tether Targets Expansion in the U.S.
Meanwhile, Tether, issuer of the world’s largest stablecoin USDT, is preparing to expand its presence in the United States following the signing of a new U.S. stablecoin law. CEO Paolo Ardoino told Bloomberg that Tether aims to provide regulated stablecoin products for institutional use, including payments, interbank settlement, and trading infrastructure. With a circulating supply of USD 163 billion as of July 2025, USDT remains the most actively traded digital asset globally.
Sources:
- Circle dan Bank-Bank Korea Selatan Siapkan Kerja Sama Stablecoin
- Circle Website: Make money movement your competitive edge