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South Korea’s five major crypto exchanges recorded 20.5 trillion won, or approximately USD 15.1 billion, in trading volume between Sept. 25 and Oct. 2. Activity fell 19.56% from the previous week, while regulators opened consultation on rules for tokenized securities ahead of a February 2027 rollout.
Digital Asset reported that combined trading volume declined by roughly five trillion won, equivalent to about USD 3.7 billion. Its calculation covered Upbit, Bithumb, Coinone, Digital X and Gopax during the period ending at 2 p.m. Korea Standard Time on Oct. 2.
Upbit retained first place with a 64.04% share, although its share dropped 3.3 percentage points. Bithumb remained second at 26.66%, gaining 1.893 percentage points. Together, the two platforms accounted for more than 90% of trading across the five exchanges.
Coinone increased its share by 1.12 percentage points to 6.58%. Digital X followed with 2.71%, while Gopax held 0.02%. All five exchanges kept their positions from the previous week despite changes in their shares of total activity.
Digital X previously operated as Korbit. The exchange adopted its new name on Sept. 16 after joining Mirae Asset Group. Customer assets, transaction records and account information carried over during the change.
Separately, the Korea Financial Intelligence Unit and Financial Supervisory Service reported broader declines in an Oct. 1 survey. The review covered 26 registered businesses, including 17 exchanges and nine custody or wallet providers, during January through June 2026.
Average daily exchange trading volume fell 44% compared with the preceding six months. Domestic crypto market capitalization declined 33%, or 28.3 trillion won, while Korean won deposits dropped 35%, equivalent to 2.9 trillion won.
Accounts eligible to trade increased 0.4%, but exchange revenue fell 41% and operating profit declined 78%. Exchanges employed 2,021 people, down 10 from the previous survey period. Anti-money laundering staff increased by one to 213.
The survey counted 673 distinct crypto assets, down 5% from the end of 2025. Of 234 assets listed exclusively on individual platforms, 93 had market capitalizations of 100 million won or less. Regulators warned about limited liquidity and sharp price changes in those assets.
Meanwhile, the Financial Services Commission proposed rules for issuing and circulating stocks, bonds, funds and certain fractional investment securities in tokenized form. Companies issuing tokens while managing customer securities accounts would need at least four billion won in equity capital.
The proposal requires one account management professional, one internal control professional and two information technology professionals. It also requires shared ownership records across at least two account management entities and the Korea Securities Depository. Retail investors would face an annual net purchase limit of 100 million won on each over-the-counter exchange.
Under the September roadmap, the initial phase covers institutional money market funds and bonds, unlisted shares through trusts, and publicly offered fractional securities. Later phases would extend coverage to publicly offered securities and pursue payments linked to stablecoins. Authorities will adjust their timing based on initial results, technology and pending stablecoin legislation.
Public consultation opened on Oct. 2 and closes on Nov. 11. The proposals then require further approvals before their scheduled implementation on Feb. 4, 2027.
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