“In your wallet in 2030
“There will definitely be stablecoins!”
A single economic outlook that provides insight into the end of cash and the future of stablecoins.

“Stablecoins are a new frontier!”
- US President Donald Trump

“Stablecoins are ‘money.’
And ‘money’ creates opportunity.”
- Jerome Powell, Chairman of the U.S. Federal Reserve

“We need to build a stablecoin market based on the Korean Won.
“It can prevent the outflow of national wealth without alienation.”
- President Lee Jae-myung

As the debate surrounding stablecoins continues, they are emerging as more than just a technological advancement; they are also an innovation with significant implications for financial stability, monetary policy, and the international financial order.
The global stablecoin market is experiencing explosive growth, with ongoing experiments aimed at replacing existing financial systems.
The authors of this book are leading experts in stablecoins at the forefront of the blockchain industry, including the head of the Korean market for one of the world's top three cryptocurrency companies and the head of the Scroll Foundation's Korean branch, which is leading the popularization of stablecoins.
They highlight the limitations of traditional finance and vividly demonstrate the new economic order and business ecosystem created by stablecoins.

While many books on stablecoins have explored technical analysis and history from the perspectives of investors, journalists, and macroeconomic experts, none have captured the tectonic shifts in business within the stablecoin industry today, as well as the global capital flows and shifts, with such vivid realism.
This book clearly demonstrates the inevitable background for the emergence of stablecoins in the digital age and their future potential.
It also presents how individuals and businesses can seize opportunities for wealth amidst global trends, offering clear insights into stablecoins, an uncharted territory where innovation and risk coexist.

Finance is essentially a system that creates money through debt and operates on trust.
Banks create far more money in the form of loans than they deposit, and thanks to people's trust in the financial system, their accounts function like money.
Debt is the engine that creates assets, and trust is the fuel that drives that engine.
The problem, however, is that trust in the financial system can collapse more easily than expected.
The common thread in all crises, from the 1997 foreign exchange crisis to the 2008 Lehman Brothers bankruptcy and the 2023 Silicon Valley Bank run, is the collapse of trust.
So we are again faced with the question:
"Which is more trustworthy: the numbers recorded in a bank's database or the new fintech experiments running on a blockchain? The physical assets in a vault, the central bank's ledger, or the digital code?" This question isn't simply a matter of choosing a technology.
It is a fundamental choice about what we trust and what financial order we build on that trust.
And it is also the currency choice of the digital age that determines what kind of financial ecosystem we want to live in.
--- p.38, from “Chapter 1: Money Built on Trust and Faith”

In a market where prices fluctuate by tens of percent every day, not only investors but also entrepreneurs running cryptocurrency projects are in trouble.
It was not just that the value of an individual's assets was halved overnight; the business itself was facing an existential crisis.
A representative example is the ICO boom of 2017.
At the time, the main investment vehicle for ICOs was Ethereum.
Even if a project team receives millions of dollars in investment, the price of Ethereum plummets in just a few weeks or days, forcing them to lose half or even completely their operating funds.
Some projects had to lay off developers, scale back planned features, or in some cases, close down entirely.
As long as it was based on highly volatile assets, it could not guarantee investor protection or the stable continuation of the business.
Ultimately, the market came to one conclusion.
What is needed is a reliable, common medium of exchange whose price does not fluctuate.
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Stablecoins emerged as a solution to this problem.
Simply put, it is a cryptocurrency that provides confidence that 1 coin can be used as if it were 1 dollar within the cryptocurrency ecosystem.
Stablecoins are coins that have value pegged to a national currency, such as the US dollar.
It has begun to establish itself as a usable currency within the cryptocurrency ecosystem.
--- p.53, from “Chapter 2: New Solutions for Finance, Stablecoins”

The profit structure that financial intermediaries have monopolized for the past several hundred years is now being dismantled.
Returning those profits directly to the capital providers—the liquidity providers—is not just a simple efficiency improvement; it is a revolution that rewrites the very mechanics of the capitalist financial system.
There is only one reason why all this is possible.
That is, it is programmable.
The new finance we are witnessing today is possible because the flow of profits, the method of distribution, and the structure of risk can all be defined through code.
Of course, there is still a long way to go.
There are many challenges to be addressed, including technical stability, regulatory clarity, and improving user experience.
But the direction has already been set.
Let's imagine 10 years from now.
Today's bank deposits may seem as outdated as public telephones.
And what will take its place will be a new financial system that runs on code, operates transparently, and returns most of its profits to users.
Will you ride the wave of change or will you remain content with the existing system?
The choice is yours, but the direction of change already seems clear.
--- p.154, from “Chapter 4: The Birth of a New Financial Ecosystem”

Stablecoin-based payment platforms go beyond simply reducing fees.
The new payment ecosystem also analyzes customers' payment data to provide useful insights to merchants.
For example, store owners can develop store management strategies based on information such as when sales are highest, which products sell most frequently, and which customer groups visit at which times.
Additionally, a structure can be created that generates additional revenue by identifying remaining balances (such as prepaid recharges or reward points) during the payment process.
In particular, the stablecoin-based payment ecosystem is one where QR payments are not yet widespread.
It is more effective in countries where the existing card network is poor.
In countries where existing payment infrastructure is not well-established, new technologies can be adopted relatively quickly.
No complicated terminals
Since payment, settlement, and information provision are all possible with just a smartphone, there is less burden on both customers and store owners.
Ultimately, the shift toward a stablecoin-based payment ecosystem isn't simply a technological shift; it's a payment innovation that directly transforms the lives of small business owners.
An era is dawning where small shops are freed from the massive card fee system and become the main payment processors through real-time settlement and data assetization.
--- From p.226-227, Chapter 7, “Financial Innovation Created by Stablecoins”

At one point, Korea's digital asset market experienced a harsh downturn, dubbed "Crypto Winter," in the wake of major international incidents such as the Terra Luna incident and the FTX bankruptcy.
Investors turned away from the cryptocurrency market due to distrust and volatility, and the overall industry sentiment soured.
But starting in June 2025, the atmosphere began to change.
A series of institutional catalysts have been announced that could mark a new turning point in the digital asset market.
A full-scale movement to develop the cryptocurrency industry at the policy and institutional level has begun.
Behind this lies President Lee Jae-myung's policy direction.
Throughout his campaign, the president consistently delivered positive messages about blockchain and digital assets, with the goal of transforming the country into a digital hub.
It received a lot of attention, especially from the younger generation and those working in the digital industry.
Immediately after his election, his promises began to translate into actual policies.
The biggest change is that legislation has been finalized to allow the issuance of stablecoins pegged to the Korean Won.
This means moving beyond simply allowing private companies to independently create and use digital won, and moving toward the government's institutional recognition and management of stablecoins, thereby securing Korea's digital financial sovereignty in the global financial market.
In the future, the won stablecoin is expected to be widely used in domestic payments, financial services, and international remittances.
Actual financial institutions and fintech companies are also preparing related projects.

--- p.355~356, from “Chapter 10: The Global Digital Currency Hegemony War”