South Korea is emerging as a significant hub for cryptocurrency usage, confirmed by a recent study showing that 9.6 million residents are expected to use digital assets by 2024.
Growth of Cryptocurrency Usage in South Korea
Published reports indicate a 52.6% increase in the adoption rate over time, reflecting the growth of such products in South Korea. Data sources include Upbit, Bithumb, Coinone, Korbit, and Gopax.
Older Generation Leads Crypto Adoption
The older generation is leading the charge of crypto adoption in South Korea, with one in four crypto users being over the age of 50. This highlights the popularity of crypto among the older generation due to market strategies and global accessibility. Published reports claim the rising popularity is due to the country's technology-savvy ecosystem and the older generation's wealth accumulation.
Market Volume and Global Trend
Since early 2025, South Korea's crypto market cap has been $68.06 billion, up 27% from mid-2024, making it the 9th nation with the highest adoption worldwide. Other leaders in adoption include the UAE, Vietnam, USA, Iran, Singapore, Saudi Arabia, Ukraine, Nigeria, India, and Thailand.
South Korea is steadily moving towards becoming a cryptocurrency hub, with both younger and older generations actively embracing the technology. The country is gradually positioning itself at the forefront of the global crypto space.
