InterviewKorea's industrial edge, tech prowess will power global blockchain leadership: Expert

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Anthony Anzalone, CEO of XION / Courtesy of XION

Korea has never been afraid of competition. It has built global brands that compete intensely in the toughest markets for everything from phones to cars and computers.

This is why Korea, a global manufacturing powerhouse, will be able to cement its leadership in blockchain, according to Anthony Anzalone, CEO of XION, a decentralized blockchain platform.

“Korean companies are successful because they build tech that people want to use. That's the key,” he said in an interview with The Korea Times.

“Everywhere you look in Korea, you see technology that becomes invisible because it just works. We want to see more of that everywhere we go, so we hope that blockchain hubs like Europe and the U.S. start to look more like Korea,” the CEO said.

Policy shifts like the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS) show that the U.S. is finally taking crypto seriously, a development the CEO considers an edge for Korea in the global crypto and blockchain landscape.

The GENIUS Act is landmark U.S. legislation that provides a comprehensive federal regulatory framework for payment using stablecoins. It was signed into law by U.S. President Donald Trump on July 18.

The act is significant because it provides a regulatory foundation for legitimate growth in digital assets, a formal declaration that the U.S. is embracing digital coins.

“While Washington was struggling with legislation, Korea was building,” Anzalone said.

In the U.S. and Europe, there was a focus on guardrails and that sent innovators to countries like Korea, where there was already experience making cutting-edge tech a part of daily life, according to the CEO.

“I hope Korea doubles down. In fact, I hope that it leads the way and makes the U.S. compete for innovators and market share. That's an environment where everyone wins because we get great tech that makes life better for everyone,” he said.

Korean financial authorities are seeking to outline policy and regulatory frameworks that foster healthy, long-term mainstream adoption while maintaining a secure environment for users.

However, progress has been limited due to differing opinions of parties with vested interests, not to mention the concerns of regulators, mindful of vast policy implications for the capital market.

“I'm here to build and not tell governments which policies they should make,” Anzalone said. “Some builders see government policy and regulations as constraints on creativity and development. I think these are tools to help us become more creative and innovative in our process. We're in this for the long haul, and working within governmental frameworks is a part of that.”

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The lesson from Markets in Crypto-Assets Regulation (MiCA), the European Union’s first comprehensive regulatory framework for cryptocurrencies and digital assets, is that clarity beats chaos, he said. MiCA was officially adopted in 2023 and fully enforceable as of December 2024.

It sets unified rules across EU member states, covering a range of crypto services and asset types, from stablecoins and utility tokens to crypto-asset service providers, such as exchanges and custodians.

For Korea, adopting comparable rules would enhance both innovation and stability, positioning it as a global leader in digital finance.

When rules are transparent, builders know where the lines are and can focus on products instead of loopholes, achieving both protection and growth. As crypto matures, MiCA provides a framework where true integration into the fabric of society can occur.

This is why Anzalone says Korea has a chance to go further: “It's not about copying Europe, but setting a framework that rewards real usage. If regulations protect people while still giving room for seamless integration, then Korea can lead the world in showing how digital assets become part of society, not just a speculative game.”

The CEO said stablecoins are the bridge between crypto and real-world assets.

In Korea, that means tying the assets into won-based stablecoin markets so payments feel instant and familiar.

“Right now, the friction is clear: On-ramps and off-ramps are clunky, fees are unpredictable, and you usually need a wallet before you can even start. This is terrible for websites, but even worse for money,” Anzalone said. “If we strip those frictions away, then stablecoins stop being a trading tool and start being the way you pay for coffee, tip a streamer or send money to a friend.”