GSR executive highlights growth potential in South Korea's crypto market

Frank Chaparro, head of content at GSR, stated that South Korea's crypto market has significant growth potential following Korea Blockchain Week. Retail participation is active, but institutional infrastructure remains underdeveloped. Chaparro identified market structure as the biggest gap, noting a lack of institutional market makers and custody firms, as well as the absence of a meaningful OTC market similar to that in the U.S. He anticipates significant changes in this area over the next few years. Improved infrastructure could lead South Korean conglomerates to diversify by adding crypto to their balance sheets, potentially allocating up to 10%. Chaparro also mentioned Upbit as a key player in the market, with major U.S. investors, including a16z, showing interest in supporting South Korean founders.

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