As of the end of February 2025, the number of users of the five largest cryptocurrency exchanges in South Korea reached 16.29 million, accounting for over 32% of the country’s population. According to SBS data, this figure exceeds the total number of investors in the stock market, which stands at 14.03 million.
This is reported by Finway
National Assembly member Cha Gyu-gin emphasized that this statistic includes duplicate accounts, as many users register on multiple platforms simultaneously. However, despite this, the growing interest in digital assets has become evident, with the number of investors increasing by more than 2.6 million over the year.
Growing Interest in Cryptocurrencies
A sharp increase in the number of users occurred in November 2024 following Donald Trump’s victory in the U.S. elections. In light of his support for the crypto industry in the United States, the number of investors in South Korea began to grow by over 500,000 users each month. Some analysts believe that this figure could soon reach 20 million.
Upbit remains the leader among platforms, with 9.82 million registered users. It is projected that by the end of March 2025, their number will exceed 10 million. Following are Coinone (3.2 million), Bithumb (2.36 million), Korbit (770,000), and GOPAX (150,000).
Traditional Stock Market on the Decline
The largest audience growth was recorded on Bithumb, where the number of users increased by 77.4% over the year. In comparison, Upbit showed a growth of 14.2%, Coinone 8.6%, Korbit 10.9%, and GOPAX 52.4%.
In contrast to the cryptocurrency market, the traditional stock market is showing a decline in interest. The number of investors in securities exchanges decreased from 14.24 million in 2022 to 14.03 million in 2023, remaining lower than the figures in the crypto market.
“In South Korea, prosecutors conducted a search at the Bithumb office”