Won stablecoin usage may cap at 4.4% even if widely accepted, study finds

A new analysis suggests that even if nine out of ten merchants in South Korea were to accept a won-backed stablecoin, its usage rate would likely not exceed 4.4%. According to Money Today, the Korea Institute of Finance projected in a recent report that a 90% merchant acceptance rate would lead to an 18.5% adoption rate, where customers register and hold the stablecoin in a wallet. However, the actual usage rate for payments would be just 4.4%. This means that even with widespread availability, only about four out of every 100 customers would use the stablecoin for transactions.