Fireblocks Accelerates Market Penetration in Korea and Increases Use of Stablecoins

Fireblocks has designated Korea as a key market and is strengthening its focus on institutional investors. CEO Michael Shaulov mentioned the rapid pace of technology adoption in the Korean market, the presence of large enterprises, and the security threats to digital assets. He explained that the attack by the North Korean hacking group Lazarus was a backdrop for the establishment of Fireblocks. The company has over 2,400 institutional clients and supports the creation of more than 640 million wallets. Approximately 15% of global institutional stablecoin transactions occur on this platform. Shaulov stated that stablecoins are now recognized as part of financial infrastructure, and traditional financial companies are considering digital assets as an extension of their core business. He assessed that the introduction of a Korean won stablecoin could reduce transaction times and costs for companies engaged in overseas trade. However, he emphasized that security and regulatory compliance are necessary for market expansion. He noted that while Korea is a major target for attacks, it is also increasing the demand for specialized security solutions. Fireblocks plans to focus on building long-term partnerships in Korea and anticipates that the Korean digital asset market may be restructured around financial infrastructure.

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