Ethereum’s co-founder believes South Korea is the next big market for cryptos, AI
Cardano's DeFi ecosystem has declined in 2025. Will that change?
Key Takeaways
Why is South Korea the next AI/crypto opportunity?
Cardano founder sees regulatory clarity and government support as key drivers for AI/crypto convergence.
Will it benefit Cardano?
Most likely, if South Korea embraces Cardano’s privacy-focused Midnight.
Charles Hoskinson, Ethereum’s [ETH] co-founder who later founded Cardano [ADA], is bullish on AI-blockchain convergence in Asia. Especially South Korea.
In an exclusive interview with The Korea Herald, Hoskinson said that blockchain could improve Korea’s key sectors like manufacturing, supply chain, and electronics segments.
“Several projects in Korea excite us greatly, and we see enormous potential for blockchain to intersect with them. There’s tremendous opportunity for blockchain and AI to work together for the benefit of the people.”
His positive outlook coincides with the South Korean government’s plans to create a $70 billion fund for AI investments.
Will Cardano profit from it?
According to Hoskinson, some of the Korean tech leaders, like Samsung, have pivoted to blockchain with crypto wallets on their Galaxy phones. And, the trend could grow across other sectors to drive transparency, efficiency, and innovation in the AI space.
He went on to add that the ongoing regulatory clarity could fuel adoption in the broader Asian region.
“Adoption has grown massively, and evolving regulation around taxes and digital assets is providing greater clarity and consumer protection.”
In South Korea, about 25% of adults own crypto, with a rising interest in stablecoins. In fact, the government has advanced key legislation (Digital Asset Basic Act, DABA) that would offer more clarity in the stablecoin space once fully implemented.
With clear rules for the space, South Korean retail and enterprises can actively leverage the space for innovative applications. During the interview, Hoskinson also claimed that Cardano’s privacy-focused L2, Midnight, is well placed for this frontier.
He billed the platform as a crucial part of South Korea’s innovative push to bring AI, healthcare, and government tech to drive real impact.
“Stablecoins, health care, and GovTech (government technology) are big opportunities. Midnight bridges privacy with compliance, enabling safe, regulated, stablecoin use. In health care, blockchain can protect data, secure clinical trials, and improve patient outcomes.”
If the traction explodes as projected and spills into Cardano, it could boost the TVL (total value locked) and overall network growth. By extension, this could juice ADA too. Alas, the DeFi ecosystem hasn’t recovered so far in 2025.
In fact, the TVL has dropped from 643 million ADA to 503 million ADA – Underscoring slow DeFi growth.
