"Beyond Korea to the World"... The Head of Korea's Top Exchange on Challenges for the Korean Digital Asset Market

Korea Blockchain Week (KBW) 2026

Oh Kyungseok: "Securing Leadership in New Standards Is the Core of the Competition"

"The United States has become the center of global finance by establishing standards and infrastructure that allow the dollar to be used all around the world. Now, in the race to set blockchain standards, the U.S. is also taking the lead," he said.

Oh Kyung-seok, CEO of Dunamu, is delivering the keynote speech at the largest blockchain conference in Asia, "Korea Blockchain Week (KBW) 2026," held on the 30th at the Grand Walkerhill Seoul in Gwangjin-gu, Seoul. Photo by Seungwook Park

Oh Kyungseok, CEO of Dunamu, stressed the importance of securing leadership in the blockchain market in his keynote speech at Korea Blockchain Week (KBW) 2026, Asia's largest blockchain conference, held on the 30th at Grand Walkerhill Seoul in Gwangjin-gu, Seoul. He stated, "The core of the competition is who creates the new standard for blockchain and who paves the way," highlighting the critical need to take the lead in the blockchain industry.

He added, "The United States, which was once wary of blockchain, is now utilizing blockchain to expand its national currency and finance. Dollar stablecoins move beyond borders, operating 24/7 across the globe. As dollar stablecoins grow, so too does the demand for reserve assets such as the dollar itself and U.S. Treasury bonds."

The transformation has already begun. Payment companies such as Visa and Mastercard are using stablecoins for payments and settlements, and JP Morgan is already applying blockchain to its financial infrastructure. Coinbase and Robinhood are also developing their own blockchains. Oh said, "Markets are built where people gather and money flows. The competition now is about who creates the market that attracts people and capital first. Whoever secures this market will set the standards for the next era."

He went on to point out, "Korea boasts world-class capabilities, not only in K-pop and K-content, but also in digital asset users and liquidity. Yet, this strength remains limited to the domestic market. In the on-chain market, which is free from borders and time restrictions, Korean capital has not been fully connected to global capital."

Oh emphasized the importance of accessibility, connectivity, and exportability. He advised, "Korea must establish its own harbor where capital and companies can enter, and it must link digital assets such as dollar stablecoins with the won to enable free exchange and boost the utility of the won. Korea needs to expand globally based on the experience it has accumulated domestically." He added, "Korea has managed its market with a high level of discipline, and this should now be turned into a global standard. If regulation shifts from being a cost to becoming a financial competency that can be exported, we will be able to become a global digital finance hub."

Oh also outlined his vision for Upbit in this market landscape. He said, "Upbit is preparing for the next chapter in finance, going beyond just being a digital asset exchange. Starting as a personal trading platform, it has been expanding its customer base to include corporations and institutions and has also built a secure foundation for digital asset custody." He added, "Upbit has been continuously expanding its features to allow users to safely store, transfer, and trade digital assets, and in the future, the company will also establish payment and settlement functionalities needed for corporate activities."

This content was produced with the assistance of AI translation services.