South Korean retail investors are piling into Circle’s stablecoins, particularly USDC and EURC, seeking stable yields amid crypto volatility. This ‘mania’ stems from easy access via local exchanges and growing use in DeFi protocols offering predictable returns. Regulatory tolerance for major stablecoins in South Korea has further fueled adoption.
The frenzy intensified as Circle’s EURC surged 138% in market cap, drawing attention to euro-pegged alternatives. Investors view stablecoins as lower-risk entry points into crypto, especially during market uncertainty. Circle’s transparency and monthly attestations have enhanced trust, contrasting with opaque competitors.
This trend reflects broader global demand for regulated stable assets, with South Korea’s high retail participation amplifying it. The mania may accelerate stablecoin integration into payment systems and savings products locally.