Stablecoins Could Save South Korean Merchants $3.8B Annually, Budget Office Finds

South Korea's budget office has estimated that stablecoin adoption could save the country's merchants up to $3.8 billion per year. The report highlights the potential cost efficiencies that digital stable currencies could bring to commercial transactions. However, the budget office also raised concerns about the broader financial implications of widespread stablecoin use. Officials warned that banks could see their role as credit intermediaries weakened if stablecoins gain significant traction. The report also flagged risks of token peg instability in the event of large-scale simultaneous redemptions.