Stablecoin Premium Drops by 0.38% Points as Exchange Rate Links Increase

By: www.tokenpost.kr|2026/09/05 19:02:20

With the ability to directly trade fiat currencies and dollar stablecoins, the local stablecoin premium has decreased by an average of 0.33 to 0.38 percentage points. The Bank of Korea analyzed trading cases of 12 fiat currencies supported by Binance from 2019 to 2025. The premium indicates how much more expensive dollar stablecoins are traded compared to the spot exchange rate of 1 dollar, and as direct trading becomes possible, the price difference may decrease, leading to a lower local premium. Following Binance's trading support, the local dollar stablecoin premium has dropped by an average of 0.33 to 0.38 percentage points, and as the premium gap between local exchanges and Binance widens, the net inflow of stablecoins has increased. When global intermediaries can access both the stablecoin market and the foreign exchange market, the demand for stablecoins can influence exchange rates through foreign exchange transactions. However, since the Korean won is not directly traded on Binance, the buying pressure for stablecoins has only manifested as a domestic premium, and no exchange rate response has been observed. The Bank of Korea has indicated that the expansion of corporate and foreign participation in virtual asset exchanges could change market structures and has proposed the impact of stablecoin demand on the foreign exchange market as a subject for policy review.

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