Tiger Research: Korean stock-based perp trading offshore hits 307 trillion won

A Tiger Research analysis found that the market for perpetual futures tied to South Korean stocks is expanding rapidly on overseas crypto exchanges. According to Tiger Research, cumulative trading volume in the sector reached about 307 trillion won from February through August this year. August alone saw 166 trillion won in trading, about four times the 42 trillion won recorded by South Korea’s five largest crypto exchanges. The firm added that as the offshore derivatives market grows, hedging by market makers could also affect domestic spot stock prices. To respond, South Korea’s financial industry needs to establish measures including access to corporate accounts, a legal framework for derivatives, and won-based payment and settlement infrastructure, Tiger Research said.