What Is a Won-Denominated Stablecoin? — Your Payment Fees Could Change

5.15 trillion won. That's how much South Korea's National Assembly budget office estimates could be saved in merchant payment fees if a won-denominated stablecoin were introduced. Essentially, card company revenue would disappear.

But if you don't know what a stablecoin is, the number doesn't make sense. It's nothing like Bitcoin, where prices swing wildly. It's an entirely different kind of coin.

When you pay by card, the merchant pays a fee to the card company. Large retailers pay around 1%, smaller shops can pay 2–3%. On a 1 million won transaction, up to 30,000 won goes to the card network.

With a stablecoin payment, that middle layer disappears. It's a direct transfer on the blockchain — no card company, no payment processor. That means fees are dramatically lower, or nearly zero.

Honestly, it's still unclear whether this will actually be implemented. The budget office report is a theoretical estimate — not confirmed policy. Card company lobbying will be fierce too.

Bitcoin surged 29% in three weeks — the same week this stablecoin report dropped. The line between crypto markets and traditional finance is getting blurrier. It's worth paying attention to.