South Korea Crypto Investor Base Surpasses 11 Million, Growth Slows

The number of cryptocurrency investors in South Korea has reached a significant milestone, with over 11 million individuals participating in the market. According to data from the Financial Services Commission, this number represents a sharp increase from just over 5.5 million at the end of 2021. However, growth in new users has slowed significantly, with rates of 21% and 25% in the first two quarters of last year dropping to just 3% in the final quarter.

Industry officials attribute this slowdown to several factors. The crypto market's relatively weak performance compared to other markets, such as stocks and commodities, has reduced the inflow of new investors. Additionally, the structure of South Korean exchanges remains focused on spot trading, which may be limiting further growth.