Dunamu CEO Says Exchange Distribution Is Key to Stablecoin Adoption

Upbit Holds ‘Upclass’ Lecture Tour at Major Universities

‘K-Finance and K-Fintech Can Become Industries Korea Is Proud Of’

“The key to early stablecoin adoption is distribution through exchanges.”

Oh Kyung-seok, chief executive officer of Dunamu, made the remark during a lecture on May 13 at Korea University’s Seoul campus in Anam-dong, Seoul. He said stablecoins would spread quickly in South Korea if they are brought under a regulatory framework. Processing large volumes of transactions from individual users in a stable way would require a high level of technological capability, he added.

Oh returned to his alma mater as part of “Upclass,” a university lecture tour organized by Upbit, South Korea’s largest cryptocurrency exchange. Oh, who has led Dunamu since last year, delivered a special lecture on “Digital Assets and Future Finance Insights.” He also took questions from students after the session.

He said exchanges would play a bigger role as stablecoin adoption expands. The value of a currency ultimately comes from the size of its user base, he said. Tether’s USDT and Circle’s USDC were also stablecoins that exchanges strategically supported, helping boost liquidity and spread them globally.

Oh also said Upbit is keeping pace with the expansion of stablecoins. The exchange’s spot trading volume totals 1,491 trillion won, and its cumulative user base has reached 13.26 million. He said Upbit has handled as much as 40 trillion won in trading in a single day and is seeking to expand into Singapore, Indonesia, Peru and Vietnam.

Oh said the digital-asset industry could grow into a signature Korean industry, much like K-culture. He said Upbit’s technology in blockchain ranks among the world’s best and pledged to help K-finance and K-fintech grow into industries Korea can be proud of.

He also offered practical advice to university students. Oh graduated from Korea University’s business school, worked as a certified public accountant, passed Korea’s bar exam, and later served as a judge and a lawyer at a major law firm. In 2016, he worked as an executive at apparel company Panko before joining Upbit, building an unusual career path.

Asked what standards he used in choosing jobs, Oh said there is no real stability in life. Early in his career, he thought about finding a stable job and salary. But he joined Dunamu because he believed he could work in a more dynamic environment and contribute to society. He added that he did not feel anxious about the move.

Park Si-on, Hankyung.com reporter ushire908@hankyung.com