“Betting on the Won with Tether”… MEXC Launches 100x Leverage Futures

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As dollar based stablecoins are widely used in global financial transactions, derivatives based on various national currencies are increasingly emerging introduced in the virtual asset market. Particularly in countries like Korea that strictly control foreign currency out,flow, products are attractattention means. Domestic investors these products on on overseas exchanges for currency hedor resolving kimchi premium.

However, MEXC currently domestic trading of this product to. This is interpreted as a measure considering potential conflicts with domestic foreign exchange regulations. An industry official noted, "Providing to 100 on won essentially encourages speculation on currency" and "This could threaten national wealth outflow and currency."stability.<>view this trend in connection with discussions on Korean Korean won stablecoin institutionalization. Professor Jae-woo Cho stated, "In the context of full-scale discussions on Korean won stablecoin within the institutional framework, this product be launch seems to ride on the issue. However,'S relatively small exchange scale means its impact on the domestic financial market will be limited".

Voices are growing growing calling for swift institutionalization of Korean won stablecoin. be Professor Hyung-jung Kim recently emphasized on Facebook "the government controls won out, Singapore and Hong Hong Kongk are enjoying NDF products products ranking top. Foreign financial markets are making money without won, while domestic financial market just watching despite abundant won. If we issue won stablecoins and do not limit listing to domestic exchanges, it could contribute to won internationalization".

Reporter Jung-woo Kim