The Evolution of Money and Trust

Dunamu CEO Oh Kyoung-suk declared that the ongoing blockchain revolution offers South Korea a historic chance to lead a new global financial order. He delivered the message during a keynote speech at the APEC CEO Summit 2025 on October 29, addressing an audience that included top executives like NVIDIA CEO Jensen Huang and AWS CEO Matt Garman.

Oh framed the discussion by tracing the history of money, explaining that its evolution is fundamentally about who guarantees its value. While traditional fiat currencies depend on governments for trust, he noted that today’s digital assets rely on algorithms and network consensus. As money has evolved, transaction costs have fallen, allowing markets and finance to expand.

“We now live in an era where fiat currency and digital assets coexist, complementing each other’s strengths,” Oh stated. He supported this claim by citing industry data showing approximately 560 million digital asset holders worldwide, with the top 21 digital wallets having been downloaded over 1.2 billion times.

Highlighting the scale of this shift, Oh pointed out that Bitcoin has grown to become the world’s seventh-largest asset class, surpassing the market value of most equities and commodities.

Stablecoins as the Bridge to a New Financial System

The CEO described stablecoins as the critical link between blockchain technology and the traditional financial system. He explained that while blockchain creates a trust system without central intermediaries, stablecoins extend that trust into real-world financial applications. The global stablecoin market has already surpassed $300 billion in capitalization and continues to grow.

According to Oh, stablecoins are actively transforming financial infrastructure by accelerating the adoption of blockchain networks, digital wallets, and decentralized applications (dApps). This trend is reshaping core financial services like payments, lending, and wealth management into a Web3-based ecosystem.

He also emphasized the potential for stablecoins to promote inclusive finance by providing financial access to the more than 1.3 billion unbanked people globally. Concluding his remarks, Oh noted that exchange-based stablecoins dominate the market, underscoring the central role exchanges play in this emerging financial system.