PANews reported on April 15th, citing DL News , that Circle CEO Jeremy Allaire stated in Seoul that the company currently has no plans to launch a stablecoin pegged to the Korean won, but is "closely monitoring" the regulatory battle in the South Korean National Assembly regarding the issuers of stablecoins (technology companies vs. banks). Allaire stated that if South Korea provides a clear compliance path for foreign institutions, Circle is willing to apply for a license and establish a local branch to provide stablecoin technology support to South Korean banks and crypto companies to assist them in issuing compliant stablecoins. Furthermore, Circle 's USD stablecoin, USDC, is experiencing rapid growth in trading volume in South Korea, accounting for approximately 42% of the daily trading volume on the exchange Coinone .