VBIT Hong Kong
This is a historical news review. Interpret prices and views in their original context.
South Korean participation and trading volumes
Cryptoassets had spread rapidly in South Korea and become influential in financial markets. Bank of Korea data put domestic crypto investors at 15.59 million at the end of November 2024, about 30% of a population of roughly 51.23 million. This was an increase of 610,000 from October.
Average daily digital-asset exchange turnover reached KRW 14.9 trillion, about US$10.5 billion, nearing the scale of the country's two main stock markets. Average daily turnover was KRW 9.92 trillion for KOSPI and KRW 6.97 trillion for KOSDAQ. The report described crypto trading as approaching or exceeding traditional equities and becoming an important part of finance.
Investors' total holdings rise sharply
At the end of November, South Korean investors held cryptoassets worth KRW 102.6 trillion, about US$70.3 billion, nearly 77% above October's KRW 58 trillion, or US$39.7 billion.
The report attributed this growth to wider use of cryptoassets and policy support. Some businesses had begun accepting crypto payments, while blockchain innovation also encouraged confidence.
Calls for a stable trading environment
The government expressed concern about the market's rapid expansion. Lawmaker Lim Kwang-hyun said crypto trading was growing quickly and had become comparable with equities. He urged preparation of a safe trading environment to protect users' rights and market stability.
He said rapid development offered substantial economic potential but also considerable risks, making stronger regulation and investor protection priorities for the South Korean government.
Outlook
The report suggested cryptoassets could become integral to South Korea's financial system as the market expanded. Balancing innovation and risk management remained a challenge for government and participants.
Overseas activity versus Hong Kong store services
Overseas trading volumes do not establish an individual asset's return or a Hong Kong business's services or regulatory qualifications. For VBIT's current trade directions, see physical OTC services in Hong Kong. For in-store checks and official channels, see transaction safety information.
