TechFlow News, February 26: According to South Korean media outlet News1, as South Korea’s regulatory framework for designating issuers of won-pegged stablecoins progresses slowly, the world’s two largest stablecoin issuers—Tether and Circle—are accelerating their efforts to capture the South Korean market. Tether is currently recruiting for multiple positions in South Korea, including public relations manager, blockchain investigator, and government relations representative, in preparation for the upcoming Digital Asset Basic Act (Phase II), which is expected to require foreign stablecoin issuers to establish local branches in South Korea to operate there. Meanwhile, Circle’s USDC has recently captured approximately 10% of trading volume on South Korean cryptocurrency exchanges.
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