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South Korea's budget office put the potential annual savings for domestic merchants from stablecoin payments at as much as $3.8 billion, while flagging that adoption could erode banks' role as credit intermediaries and strain token pegs in a mass-redemption event. The cost-savings figure strengthens the policy case for a won-denominated stablecoin framework, a direct threat to card-network and payment-fee revenue and a slow leak in bank deposit funding if settlement migrates on-chain. Watch the legislative text on issuer eligibility and reserve/redemption rules: bank-led issuance would blunt the disintermediation channel, while non-bank issuance would widen it and put payment-sector earnings under sustained pressure.
As a Policy signal, watch whether it changes price action, volatility, or flows around ETH, USDT, KOSPI.
Original Source: CoinDesk
This page is market information analysis, not investment advice.
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