Korea ranks among the top 5 global crypto markets by trading volume, with one of the highest participation rates from retail investors relative to population size.

Unlike other regions, Korea has a unique KRW-based exchange structure, which makes it stand out.

For overseas projects, this means that Korea is not just another local market, but a critical strategic hub that must be considered.

As a result, when launching tokens, projects consistently set a listing on Korean exchanges as one of their top priorities.

However, given that Korean exchanges usually only approve one listing per week, competition among projects is extremely fierce. On top of that, additional regulations and stricter internal review processes have significantly raised the barriers to entry.

This means that technical achievements alone are no longer enough for overseas projects to penetrate the Korean market — and this is where KBW (Korea Blockchain Week) plays a crucial role.

Since 2018, KBW has been Korea’s largest blockchain event, serving as one of the few opportunities where exchange representatives, project teams, and investors gather in the same place.

In particular, projects aiming for Korean listings actively participate in KBW. Looking back at KBW 2024, the results speak for themselves:

Among the headline speakers 'Mysten Labs, Movement, Chiliz, Tron, SaharaAI, and Story Protocol' only Tron and Chiliz were already listed in Korea. The rest all secured Korean exchange listings after their KBW participation.

This shows that KBW is not just a networking event, but a strategic gateway for entering the Korean market and securing listings.

Therefore, projects that actively engage in KBW are often those seriously targeting Korean exchange listings, and their chances of success are notably higher.

For KBW 2025, high-profile speakers include Donald Trump Jr. (American Bitcoin), Arthur Hayes (former BitMEX CEO & current Maelstrom CIO), Justin Sun (Tron Founder), Ben Zhou (Bybit CEO), and Jeff Yan (Hyperliquid Labs CEO).

While many of these speakers are industry heavyweights, not all are directly relevant to token launches or Korean listings. To identify the most listing-relevant projects, I applied the following criteria

Selection Criteria

• Included if there is any possibility of a token launch (regardless of TGE status).

• Excluded projects already listed on Upbit (e.g., $ENA, $MOCA).

• Excluded VCs or entities not directly tied to token issuance.

For each project, I summarized: project name, token status, listing status, major exchanges, and market data (Market Cap, FDV).

Igloo (CEO, Luca Netz)

• Pudgy Penguins has been growing into a global IP character brand by expanding beyond NFTs into physical merchandise like plushies and toys, even securing retail placement in Walmart stores across the U.S.

• The PENGU token is already listed on all major Korean exchanges, with a market cap of $2B and an FDV of $2.81B.

• Meanwhile, Abstract has not yet launched its token but continues to generate buzz in the market. The project distributes XP and introduces tier-based differentiation to reward activity, setting the stage for its upcoming token release.

• With Luca Netz participating as a speaker at KBW, the likelihood of Abstract’s token being listed on Korean exchanges has increased.

• Given that Mysten Labs successfully secured Korean exchange listings for both SUI and WAL, it is expected that Igloo will not only continue driving PENGU’s success but also likely achieve listings for the forthcoming Abstract token in Korea.

Hyperliquid (CEO, Jeff Yan)

• Hyperliquid, often referred to as the “on-chain Binance,” is the world’s largest orderbook-based perpetual DEX by trading volume.

• The HYPE token is currently traded on Hyperliquid and Bybit, with a market cap of $16.5B and an FDV of $49.6B, ranking 11th globally by market capitalization.

• At this year’s KBW, Hyperliquid CEO Jeff Yan is scheduled to appear as a speaker.

• Given HYPE’s market cap, it would not be surprising if the token were listed on Korean exchanges in the near future.

• However, Upbit has been highly conservative, having not listed Binance’s BNB or even first-generation Perp DEX tokens like DYDX and GMX. As a result, it is more likely that HYPE will first secure listings on exchanges such as Bithumb and Coinone before eventually being considered by Upbit.

Stable (CEO, Joshua Harding)

• Stable is building a dedicated Layer 1 optimized for USDT payments.

• The project has raised $28M from a range of investors, including Bitfinex, USDT0, and HackVC.

• Currently, Tron dominates the USDT deposit and withdrawal market, but Stable’s entry is expected to capture a significant share of this market.

• Although there has been no official announcement regarding its own token, the likelihood of a token launch is considered very high. CEO Joshua Harding is also scheduled to speak at KBW.

0G Labs (CEO, Michael Heinrich)

• 0G Labs is building a Layer 1 blockchain powered by a decentralized AI operating system.

• The project has raised $75M from leading investors such as HackVC, Delphi, OKX Ventures, and Animoca. Uniquely, 0G Labs also secured an additional $284M through node sales and OTC deals, bringing its total fundraising to $359M.

• When the token TGE takes place, it is highly likely to be listed on major exchanges, with the team actively participating in events like KBW to strengthen its chances of securing listings on Korean exchanges in particular.

• Among Korean exchanges, Upbit stands out as the largest with the strongest listing influence, and it has an unusually frequent track record of listing tokens from node-based projects. As a result, 0G Labs is considered one of the prime candidates for an eventual Upbit listing.

Gaia (CEO, Matt Wright)

• Gaia is an infrastructure platform that enables anyone to easily create and deploy personalized AI agents.

• The project has raised $12M from investors including Mirana Ventures, Mantle, and ConsenSys.

• The GAIA token is currently traded on Kraken, Bitget, and MEXC, with a market cap of $12M and an FDV of $71M, which is considered underwhelming relative to the scale of its funding.

• As a result, Gaia’s participation as a speaker at KBW appears to be a strategic move aimed at securing listings on Korean exchanges to drive a potential price rebound.

Sonic (CEO, Michael Kong)

• Sonic is a Layer 1 that launched through a 1:1 swap migration from the existing FTM token.

• The S token is currently traded on Binance, Coinbase, and Bithumb, with a market cap of $915M and an FDV of $1.02B.

• Effectively, it is listed on all major exchanges except Upbit, which is why the Sonic Foundation has been aggressively targeting an Upbit listing—hosting meetups in Korea and ramping up marketing efforts.

• At this year’s KBW, CEO Michael Kong is scheduled to appear as a speaker.

Monad (Co-Founder, Eunice Giarta)

• Monad is an EVM-compatible Layer 1 boasting ultra-fast performance with 10,000 TPS and 0.5-second block times.

• The project has raised $244M from leading investors including Paradigm, Dragonfly, and Coinbase Ventures, and is currently running its testnet.

• Through its official social channels, Monad has consistently signaled its upcoming mainnet launch, with a 2025 token release confirmed.

• In preparation for the MON token TGE and potential listings on Korean exchanges, Co-Founder Eunice Giarta is set to attend KBW.

DoubleZero (Co-Founder, Austin Federa)

• DoubleZero is building next-generation physical network infrastructure for decentralized systems on the blockchain.

• The project has raised $28M from investors including Dragonfly, Multicoin Capital, Delphi, and GSR, and more recently conducted a private node sale on Coinlist.

• With the presence of nodes, a token launch is essentially guaranteed, though the exact TGE timeline has not yet been disclosed.

• Co-Founder Austin Federa is scheduled to attend KBW, suggesting that the team may also be targeting listings on Korean exchanges.

Allora (Co-Founder, Nick Emmons)

• Allora is a decentralized AI-powered, self-improving machine learning network.

• The project has raised $33.75M from investors including Delphi Ventures, Polychain Capital, and Framework.

• Co-Founder Nick announced Allora’s participation at KBW while also confirming that the project’s token TGE will take place in September.

• Allora also runs a weekly Kaito Yapping event, rewarding 10 participants with a special Discord role. Since only 200 of these roles are available on a first-come, first-served basis, holding one is highly likely to make participants eligible for the upcoming Allora token airdrop.

Bitlayer (Co-Founder, Charlie Hu)

• Bitlayer is the first BitVM-based Layer 2, enabling EVM-compatible smart contracts while preserving Bitcoin’s security.

• The project has raised $25M from investors including Polychain, Franklin Templeton Investments, ABCDE, and GSR, and also completed a $4M token sale on Coinlist.

• On August 25, Bitlayer announced its listing on Binance Alpha and Binance Futures, marking the TGE of its BTR token.\

• The BTR token is currently traded on Kraken, Gate, and MEXC, with a market cap of $21.4M and an FDV of $82M.

Peaq (Co-Founder, Leonard Dorlöchter)

• Peaq is a Layer 1 blockchain designed to build the machine economy by connecting and tokenizing machines and devices across sectors such as energy, mobility, telecommunications, and agriculture.

• The project has raised $23.5M from investors including Borderless Capital, Spartan Group, DWF Labs, and Animoca Brands.

• The PEAQ token is currently traded on Bithumb, Bitget, and Gate, with a market cap of $79M and an FDV of $308M.

Backpack (Co-Founder, Armani Ferrante)

• Backpack is an all-in-one crypto app that integrates both a wallet and an exchange.

• The project has raised $37M from prominent investors including Jump Crypto, Delphi Ventures, Hashed, Amber Group, and Wintermute.

• Currently, Backpack is running a points airdrop based on user trading volume and revenue, which is widely interpreted as a signal that the platform will eventually launch its own exchange token.

• Since Travel Rule compliance between Backpack and Korean exchanges is already in place, accessibility is not an issue.

• Positioning itself as a replacement for the now-bankrupt FTX, Backpack is aiming to establish itself more as a CEX than a DEX.

Nansen (Co-Founder, Alex Svanevik)

• Nansen is an on-chain data analytics platform that provides insights by analyzing blockchain activity.

• The project has raised $88.2M from investors including Mechanism Capital, A16Z Crypto, Coinbase Ventures, and Accel.

• Recently, Nansen launched a points system, where users can earn points either by subscribing to a paid membership or by staking certain tokens on Nansen, with rewards distributed proportionally to the amount contributed.

• Given that its competitor Arkham has already launched the ARKM token, the likelihood of Nansen issuing its own token is considered very high.

Altius (Co-Founder, Annabelle Huang)

• Altius is an infrastructure solution that plugs a high-performance execution layer into existing blockchain networks.

• The project has raised $11M from investors including Pantera Capital, Founders Fund, and Amber Group.

• Since it is not yet widely known in the Korean market, Altius is expected to use KBW as a springboard for a more active entry into Korea.

Lido (Head of Staking, Isidoros Passadis)

• Lido is the leading liquid staking protocol for Ethereum.

• The project has raised $145M from investors including Paradigm, Coinbase Ventures, Dragonfly, and A16Z Crypto.

• Ranked #1 among protocols with a TVL of $37B, Lido has faced challenges getting the LIDO token listed on Upbit, likely due to concerns around the risks associated with restaking tokens.

• Currently, the LIDO token is traded on Binance, Bybit, and Bithumb, with a market cap of $1.23B and an FDV of $1.38B.

• However, following the U.S. SEC’s recent clarification that LSTs like Lido are not considered securities, the likelihood of an Upbit listing has increased.

HashKey Capital and OTC Global (CEO, Deng Chao)

• Hashkey Capital is an Asia-based asset management firm specializing in blockchain investments.

• It operates as a VC and is distinct from Hashkey Group, which is developing Hashkey Chain, and from Hashkey Exchange.

• That said, since they are all part of the broader Hashkey ecosystem, there is a possibility that Hashkey Capital may reference Hashkey Exchange’s native token, HSK.

• However, given that even Binance’s BNB has yet to be listed on Upbit’s KRW market, the likelihood of a Korean exchange listing remains very low.

OpenLedger (Co-Founder, Ram Kumar)

• OpenLedger is a decentralized AI infrastructure that combines AI and blockchain to transparently record and reward contributions of data and models.

• The project has raised $8M from investors including Polychain Capital and Borderless Capital.

• Currently, its private mainnet is accessible only to whitelisted users, signaling that the TGE is approaching soon.

Eliza Labs (Founder, Shaw Walters)

• ElizaOS is an open-source framework for building and running AI-powered autonomous agents.

• Its founder, Shaw, also created AI16Z, one of the most prominent tokens based on AI agent infrastructure.

• The AI16Z token is currently traded on Bybit and Bithumb, with a market cap and FDV both at $131M.

Open Game Protocol (Founding Contributor, Justin Waldron)

• The project aims to be a lightweight protocol that provides an SDK allowing game developers to integrate Solana functionality into their games in under five minutes, simplifying game integration and deployment.

• Instead of relying on advertising spend like traditional Web2 games to attract users, it leverages token incentives and community network effects, making in-game reward structures function as a marketing channel in an optimized token distribution model.

• While no other features have been implemented yet, the structure suggests a high likelihood of issuing its own token as rewards.

Lombard Finance (Co-Founder, Jacob Phillips)

• Lombard Finance is an infrastructure project that activates on-chain Bitcoin liquidity to expand the BTC-based DeFi ecosystem.

• The project has raised $17M from investors including Polychain Capital, OKX Ventures, and YZi Labs.

• Lombard’s BARD token conducted a token sale on Buidlpad—where Solayer and Sahara previously held sales—at a $450M valuation with 100% TGE.

• Given that both Solayer and Sahara successfully secured Upbit listings after their Buidlpad token sales, Lombard also has a high likelihood of being listed on Korean exchanges.

Plume (Co-Founder, Teddy Pornprinya)

• Plume is an RWA (Real-World Asset) platform that digitizes physical assets on the blockchain.

• The project has raised $30M from investors including Haun Ventures, Galaxy, and YZi Labs.

• The Plume token is currently listed on Binance and Bithumb, trading with a market cap of $216M and an FDV of $816M.

• Since ONDO, the largest player in the RWA sector, successfully secured an Upbit listing, Plume also has a potential path to be listed.

SOON (Co-Founder and CEO, Joanna Zeng)

• SOON is a next-generation rollup platform built on SVM technology, offering high throughput, low latency, and modular scalability.

• The project has raised $27M from investors including Hack VC, Amber Group, and Jump.

• The SOON token is currently listed on Gate, Bitget, and Bithumb, trading with a market cap of $67M and an FDV of $274M.

• Since SOON is already available on Upbit’s BTC market, its likelihood of being listed in the KRW market is higher compared to other coins.

Noble (CEO, Jelena Djuric)

• Noble is a project aiming to build a universally usable stablecoin within the Cosmos ecosystem.

• The project has raised $18.3M from investors including Polychain Capital, Circle, Paradigm, and Wintermute.

• In collaboration with Circle, the issuer of USDC, Noble enables the issuance and supply of native USDC within the Cosmos ecosystem.

• There is also a yield-bearing stablecoin, USDN, backed by U.S. short-term Treasury securities. Users can earn Noble points either by receiving interest or by converting USDN into the Noble token in the future.

• If Korean exchanges expand support beyond USDT and USDC to include other stablecoins, USDN could potentially be added as well.

Boundless (CEO, Shiv Shankar)

• Boundless is a general-purpose ZK protocol developed by RISC Zero.

• The project conducted a $4M community token sale through the Kaito launchpad.

• While the exact token TGE schedule has not been announced, it is expected between late September and early October.

• The Boundless team has officially opened a Korean community and confirmed participation in KBW.

• Since Succinct, a competing project that conducted its TGE earlier, successfully secured a listing on Korean exchanges with its PROVE token, there is anticipation that Boundless may follow a similar path.

Anoma (Co-Founder, Adrian Brink)

• Anoma is a decentralized operating system designed for intent-driven applications, aiming to address blockchain fragmentation issues in the Web3 environment.

• The project has raised $60.25M from investors including Polychain Capital, Coinbase Ventures, and Electric Capital.

• Anoma is currently running its own testnet and hosting Kaito Yapping events.

• Although the detailed token TGE schedule has not been announced, given the scale of its funding, the project is expected to prepare for listings on Korean exchanges.

XION (Founder, Anthony Anzalone)

• XION is a Layer 1 blockchain designed to be used without a wallet, leveraging chain abstraction technology to enable blockchain access without complex procedures.

• The project has raised $36M from investors including Spartan Group, Multicoin Capital, and Mechanism Capital.

• The XION token is currently listed on Bybit and Bitget, trading with a market cap of $37M and an FDV of $194M.

• Since it has not yet been listed on Korean exchanges, it will be worth monitoring for future developments.

Fragmetric (Co-Founder, Sang kim)

• Fragmetric is a Solana-based Liquid Restaking Protocol.

• The project has raised $12M from investors including Hashed, RockawayX, and Hypersphere Ventures Crypto Fund.

• The FRAG token is currently listed on Bybit and Bitget, trading with a market cap of $8.5M and an FDV of $42M.

• Since its TGE, the performance of the FRAG token has been notably underwhelming.

Roam (Co-Founder, YZ)

• Roam is a DePIN project that connects Wi-Fi and eSIMs to provide seamless internet access.

• Users earn points when using Wi-Fi through Roam, which can be exchanged for ROAM tokens.

• The ROAM token is currently listed on Bybit and Bitget, trading with a market cap of $34M and an FDV of $112M.

• Since it has not yet been listed on Korean exchanges, the project appears to be targeting this through KBW participation and local marketing efforts.

• However, unlike countries with less developed infrastructure, Korea’s strong internet coverage presents a challenge for achieving significant market adoption.

So far, I’ve compiled a list of 2025 KBW speaker projects that potentially have a chance of being listed on Korean exchanges.

This does not mean that these projects will automatically be listed in Korea.

However, looking at past cases, participation in KBW has clearly had a direct or indirect impact on enabling KRW trading for overseas project tokens.

The likelihood increases even more for projects that are not only on the speaker list but also actively participate as sponsors.

It seems that sponsoring the event—providing direct financial support—carries more weight than simply appearing as a speaker, which likely results in preferential consideration.

Therefore, in the next piece, I plan to review the KBW 2025 sponsor list, compare it with last year’s, highlight projects that are both speakers and sponsors, and rank which of these projects are most likely to achieve KRW listings.

Korea ranks among the top 5 global crypto markets by trading volume, with one of the highest participation rates from retail investors relative to population size.

Unlike other regions, Korea has a unique KRW-based exchange structure, which makes it stand out.

For overseas projects, this means that Korea is not just another local market, but a critical strategic hub that must be considered.

As a result, when launching tokens, projects consistently set a listing on Korean exchanges as one of their top priorities.

However, given that Korean exchanges usually only approve one listing per week, competition among projects is extremely fierce. On top of that, additional regulations and stricter internal review processes have significantly raised the barriers to entry.

This means that technical achievements alone are no longer enough for overseas projects to penetrate the Korean market — and this is where KBW (Korea Blockchain Week) plays a crucial role.

Since 2018, KBW has been Korea’s largest blockchain event, serving as one of the few opportunities where exchange representatives, project teams, and investors gather in the same place.

In particular, projects aiming for Korean listings actively participate in KBW. Looking back at KBW 2024, the results speak for themselves:

Among the headline speakers 'Mysten Labs, Movement, Chiliz, Tron, SaharaAI, and Story Protocol' only Tron and Chiliz were already listed in Korea. The rest all secured Korean exchange listings after their KBW participation.

This shows that KBW is not just a networking event, but a strategic gateway for entering the Korean market and securing listings.

Therefore, projects that actively engage in KBW are often those seriously targeting Korean exchange listings, and their chances of success are notably higher.

For KBW 2025, high-profile speakers include Donald Trump Jr. (American Bitcoin), Arthur Hayes (former BitMEX CEO & current Maelstrom CIO), Justin Sun (Tron Founder), Ben Zhou (Bybit CEO), and Jeff Yan (Hyperliquid Labs CEO).

While many of these speakers are industry heavyweights, not all are directly relevant to token launches or Korean listings. To identify the most listing-relevant projects, I applied the following criteria

Selection Criteria

• Included if there is any possibility of a token launch (regardless of TGE status).

• Excluded projects already listed on Upbit (e.g., $ENA, $MOCA).

• Excluded VCs or entities not directly tied to token issuance.

For each project, I summarized: project name, token status, listing status, major exchanges, and market data (Market Cap, FDV).

Igloo (CEO, Luca Netz)

• Pudgy Penguins has been growing into a global IP character brand by expanding beyond NFTs into physical merchandise like plushies and toys, even securing retail placement in Walmart stores across the U.S.

• The PENGU token is already listed on all major Korean exchanges, with a market cap of $2B and an FDV of $2.81B.

• Meanwhile, Abstract has not yet launched its token but continues to generate buzz in the market. The project distributes XP and introduces tier-based differentiation to reward activity, setting the stage for its upcoming token release.

• With Luca Netz participating as a speaker at KBW, the likelihood of Abstract’s token being listed on Korean exchanges has increased.

• Given that Mysten Labs successfully secured Korean exchange listings for both SUI and WAL, it is expected that Igloo will not only continue driving PENGU’s success but also likely achieve listings for the forthcoming Abstract token in Korea.

Hyperliquid (CEO, Jeff Yan)

• Hyperliquid, often referred to as the “on-chain Binance,” is the world’s largest orderbook-based perpetual DEX by trading volume.

• The HYPE token is currently traded on Hyperliquid and Bybit, with a market cap of $16.5B and an FDV of $49.6B, ranking 11th globally by market capitalization.

• At this year’s KBW, Hyperliquid CEO Jeff Yan is scheduled to appear as a speaker.

• Given HYPE’s market cap, it would not be surprising if the token were listed on Korean exchanges in the near future.

• However, Upbit has been highly conservative, having not listed Binance’s BNB or even first-generation Perp DEX tokens like DYDX and GMX. As a result, it is more likely that HYPE will first secure listings on exchanges such as Bithumb and Coinone before eventually being considered by Upbit.

Stable (CEO, Joshua Harding)

• Stable is building a dedicated Layer 1 optimized for USDT payments.

• The project has raised $28M from a range of investors, including Bitfinex, USDT0, and HackVC.

• Currently, Tron dominates the USDT deposit and withdrawal market, but Stable’s entry is expected to capture a significant share of this market.

• Although there has been no official announcement regarding its own token, the likelihood of a token launch is considered very high. CEO Joshua Harding is also scheduled to speak at KBW.

0G Labs (CEO, Michael Heinrich)

• 0G Labs is building a Layer 1 blockchain powered by a decentralized AI operating system.

• The project has raised $75M from leading investors such as HackVC, Delphi, OKX Ventures, and Animoca. Uniquely, 0G Labs also secured an additional $284M through node sales and OTC deals, bringing its total fundraising to $359M.

• When the token TGE takes place, it is highly likely to be listed on major exchanges, with the team actively participating in events like KBW to strengthen its chances of securing listings on Korean exchanges in particular.

• Among Korean exchanges, Upbit stands out as the largest with the strongest listing influence, and it has an unusually frequent track record of listing tokens from node-based projects. As a result, 0G Labs is considered one of the prime candidates for an eventual Upbit listing.

Gaia (CEO, Matt Wright)

• Gaia is an infrastructure platform that enables anyone to easily create and deploy personalized AI agents.

• The project has raised $12M from investors including Mirana Ventures, Mantle, and ConsenSys.

• The GAIA token is currently traded on Kraken, Bitget, and MEXC, with a market cap of $12M and an FDV of $71M, which is considered underwhelming relative to the scale of its funding.

• As a result, Gaia’s participation as a speaker at KBW appears to be a strategic move aimed at securing listings on Korean exchanges to drive a potential price rebound.

Sonic (CEO, Michael Kong)

• Sonic is a Layer 1 that launched through a 1:1 swap migration from the existing FTM token.

• The S token is currently traded on Binance, Coinbase, and Bithumb, with a market cap of $915M and an FDV of $1.02B.

• Effectively, it is listed on all major exchanges except Upbit, which is why the Sonic Foundation has been aggressively targeting an Upbit listing—hosting meetups in Korea and ramping up marketing efforts.

• At this year’s KBW, CEO Michael Kong is scheduled to appear as a speaker.

Monad (Co-Founder, Eunice Giarta)

• Monad is an EVM-compatible Layer 1 boasting ultra-fast performance with 10,000 TPS and 0.5-second block times.

• The project has raised $244M from leading investors including Paradigm, Dragonfly, and Coinbase Ventures, and is currently running its testnet.

• Through its official social channels, Monad has consistently signaled its upcoming mainnet launch, with a 2025 token release confirmed.

• In preparation for the MON token TGE and potential listings on Korean exchanges, Co-Founder Eunice Giarta is set to attend KBW.

DoubleZero (Co-Founder, Austin Federa)

• DoubleZero is building next-generation physical network infrastructure for decentralized systems on the blockchain.

• The project has raised $28M from investors including Dragonfly, Multicoin Capital, Delphi, and GSR, and more recently conducted a private node sale on Coinlist.

• With the presence of nodes, a token launch is essentially guaranteed, though the exact TGE timeline has not yet been disclosed.

• Co-Founder Austin Federa is scheduled to attend KBW, suggesting that the team may also be targeting listings on Korean exchanges.

Allora (Co-Founder, Nick Emmons)

• Allora is a decentralized AI-powered, self-improving machine learning network.

• The project has raised $33.75M from investors including Delphi Ventures, Polychain Capital, and Framework.

• Co-Founder Nick announced Allora’s participation at KBW while also confirming that the project’s token TGE will take place in September.

• Allora also runs a weekly Kaito Yapping event, rewarding 10 participants with a special Discord role. Since only 200 of these roles are available on a first-come, first-served basis, holding one is highly likely to make participants eligible for the upcoming Allora token airdrop.

Bitlayer (Co-Founder, Charlie Hu)

• Bitlayer is the first BitVM-based Layer 2, enabling EVM-compatible smart contracts while preserving Bitcoin’s security.

• The project has raised $25M from investors including Polychain, Franklin Templeton Investments, ABCDE, and GSR, and also completed a $4M token sale on Coinlist.

• On August 25, Bitlayer announced its listing on Binance Alpha and Binance Futures, marking the TGE of its BTR token.\

• The BTR token is currently traded on Kraken, Gate, and MEXC, with a market cap of $21.4M and an FDV of $82M.

Peaq (Co-Founder, Leonard Dorlöchter)

• Peaq is a Layer 1 blockchain designed to build the machine economy by connecting and tokenizing machines and devices across sectors such as energy, mobility, telecommunications, and agriculture.

• The project has raised $23.5M from investors including Borderless Capital, Spartan Group, DWF Labs, and Animoca Brands.

• The PEAQ token is currently traded on Bithumb, Bitget, and Gate, with a market cap of $79M and an FDV of $308M.

Backpack (Co-Founder, Armani Ferrante)

• Backpack is an all-in-one crypto app that integrates both a wallet and an exchange.

• The project has raised $37M from prominent investors including Jump Crypto, Delphi Ventures, Hashed, Amber Group, and Wintermute.

• Currently, Backpack is running a points airdrop based on user trading volume and revenue, which is widely interpreted as a signal that the platform will eventually launch its own exchange token.

• Since Travel Rule compliance between Backpack and Korean exchanges is already in place, accessibility is not an issue.

• Positioning itself as a replacement for the now-bankrupt FTX, Backpack is aiming to establish itself more as a CEX than a DEX.

Nansen (Co-Founder, Alex Svanevik)

• Nansen is an on-chain data analytics platform that provides insights by analyzing blockchain activity.

• The project has raised $88.2M from investors including Mechanism Capital, A16Z Crypto, Coinbase Ventures, and Accel.

• Recently, Nansen launched a points system, where users can earn points either by subscribing to a paid membership or by staking certain tokens on Nansen, with rewards distributed proportionally to the amount contributed.

• Given that its competitor Arkham has already launched the ARKM token, the likelihood of Nansen issuing its own token is considered very high.

Altius (Co-Founder, Annabelle Huang)

• Altius is an infrastructure solution that plugs a high-performance execution layer into existing blockchain networks.

• The project has raised $11M from investors including Pantera Capital, Founders Fund, and Amber Group.

• Since it is not yet widely known in the Korean market, Altius is expected to use KBW as a springboard for a more active entry into Korea.

Lido (Head of Staking, Isidoros Passadis)

• Lido is the leading liquid staking protocol for Ethereum.

• The project has raised $145M from investors including Paradigm, Coinbase Ventures, Dragonfly, and A16Z Crypto.

• Ranked #1 among protocols with a TVL of $37B, Lido has faced challenges getting the LIDO token listed on Upbit, likely due to concerns around the risks associated with restaking tokens.

• Currently, the LIDO token is traded on Binance, Bybit, and Bithumb, with a market cap of $1.23B and an FDV of $1.38B.

• However, following the U.S. SEC’s recent clarification that LSTs like Lido are not considered securities, the likelihood of an Upbit listing has increased.

HashKey Capital and OTC Global (CEO, Deng Chao)

• Hashkey Capital is an Asia-based asset management firm specializing in blockchain investments.

• It operates as a VC and is distinct from Hashkey Group, which is developing Hashkey Chain, and from Hashkey Exchange.

• That said, since they are all part of the broader Hashkey ecosystem, there is a possibility that Hashkey Capital may reference Hashkey Exchange’s native token, HSK.

• However, given that even Binance’s BNB has yet to be listed on Upbit’s KRW market, the likelihood of a Korean exchange listing remains very low.

OpenLedger (Co-Founder, Ram Kumar)

• OpenLedger is a decentralized AI infrastructure that combines AI and blockchain to transparently record and reward contributions of data and models.

• The project has raised $8M from investors including Polychain Capital and Borderless Capital.

• Currently, its private mainnet is accessible only to whitelisted users, signaling that the TGE is approaching soon.

Eliza Labs (Founder, Shaw Walters)

• ElizaOS is an open-source framework for building and running AI-powered autonomous agents.

• Its founder, Shaw, also created AI16Z, one of the most prominent tokens based on AI agent infrastructure.

• The AI16Z token is currently traded on Bybit and Bithumb, with a market cap and FDV both at $131M.

Open Game Protocol (Founding Contributor, Justin Waldron)

• The project aims to be a lightweight protocol that provides an SDK allowing game developers to integrate Solana functionality into their games in under five minutes, simplifying game integration and deployment.

• Instead of relying on advertising spend like traditional Web2 games to attract users, it leverages token incentives and community network effects, making in-game reward structures function as a marketing channel in an optimized token distribution model.

• While no other features have been implemented yet, the structure suggests a high likelihood of issuing its own token as rewards.

Lombard Finance (Co-Founder, Jacob Phillips)

• Lombard Finance is an infrastructure project that activates on-chain Bitcoin liquidity to expand the BTC-based DeFi ecosystem.

• The project has raised $17M from investors including Polychain Capital, OKX Ventures, and YZi Labs.

• Lombard’s BARD token conducted a token sale on Buidlpad—where Solayer and Sahara previously held sales—at a $450M valuation with 100% TGE.

• Given that both Solayer and Sahara successfully secured Upbit listings after their Buidlpad token sales, Lombard also has a high likelihood of being listed on Korean exchanges.

Plume (Co-Founder, Teddy Pornprinya)

• Plume is an RWA (Real-World Asset) platform that digitizes physical assets on the blockchain.

• The project has raised $30M from investors including Haun Ventures, Galaxy, and YZi Labs.

• The Plume token is currently listed on Binance and Bithumb, trading with a market cap of $216M and an FDV of $816M.

• Since ONDO, the largest player in the RWA sector, successfully secured an Upbit listing, Plume also has a potential path to be listed.

SOON (Co-Founder and CEO, Joanna Zeng)

• SOON is a next-generation rollup platform built on SVM technology, offering high throughput, low latency, and modular scalability.

• The project has raised $27M from investors including Hack VC, Amber Group, and Jump.

• The SOON token is currently listed on Gate, Bitget, and Bithumb, trading with a market cap of $67M and an FDV of $274M.

• Since SOON is already available on Upbit’s BTC market, its likelihood of being listed in the KRW market is higher compared to other coins.

Noble (CEO, Jelena Djuric)

• Noble is a project aiming to build a universally usable stablecoin within the Cosmos ecosystem.

• The project has raised $18.3M from investors including Polychain Capital, Circle, Paradigm, and Wintermute.

• In collaboration with Circle, the issuer of USDC, Noble enables the issuance and supply of native USDC within the Cosmos ecosystem.

• There is also a yield-bearing stablecoin, USDN, backed by U.S. short-term Treasury securities. Users can earn Noble points either by receiving interest or by converting USDN into the Noble token in the future.

• If Korean exchanges expand support beyond USDT and USDC to include other stablecoins, USDN could potentially be added as well.

Boundless (CEO, Shiv Shankar)

• Boundless is a general-purpose ZK protocol developed by RISC Zero.

• The project conducted a $4M community token sale through the Kaito launchpad.

• While the exact token TGE schedule has not been announced, it is expected between late September and early October.

• The Boundless team has officially opened a Korean community and confirmed participation in KBW.

• Since Succinct, a competing project that conducted its TGE earlier, successfully secured a listing on Korean exchanges with its PROVE token, there is anticipation that Boundless may follow a similar path.

Anoma (Co-Founder, Adrian Brink)

• Anoma is a decentralized operating system designed for intent-driven applications, aiming to address blockchain fragmentation issues in the Web3 environment.

• The project has raised $60.25M from investors including Polychain Capital, Coinbase Ventures, and Electric Capital.

• Anoma is currently running its own testnet and hosting Kaito Yapping events.

• Although the detailed token TGE schedule has not been announced, given the scale of its funding, the project is expected to prepare for listings on Korean exchanges.

XION (Founder, Anthony Anzalone)

• XION is a Layer 1 blockchain designed to be used without a wallet, leveraging chain abstraction technology to enable blockchain access without complex procedures.

• The project has raised $36M from investors including Spartan Group, Multicoin Capital, and Mechanism Capital.

• The XION token is currently listed on Bybit and Bitget, trading with a market cap of $37M and an FDV of $194M.

• Since it has not yet been listed on Korean exchanges, it will be worth monitoring for future developments.

Fragmetric (Co-Founder, Sang kim)

• Fragmetric is a Solana-based Liquid Restaking Protocol.

• The project has raised $12M from investors including Hashed, RockawayX, and Hypersphere Ventures Crypto Fund.

• The FRAG token is currently listed on Bybit and Bitget, trading with a market cap of $8.5M and an FDV of $42M.

• Since its TGE, the performance of the FRAG token has been notably underwhelming.

Roam (Co-Founder, YZ)

• Roam is a DePIN project that connects Wi-Fi and eSIMs to provide seamless internet access.

• Users earn points when using Wi-Fi through Roam, which can be exchanged for ROAM tokens.

• The ROAM token is currently listed on Bybit and Bitget, trading with a market cap of $34M and an FDV of $112M.

• Since it has not yet been listed on Korean exchanges, the project appears to be targeting this through KBW participation and local marketing efforts.

• However, unlike countries with less developed infrastructure, Korea’s strong internet coverage presents a challenge for achieving significant market adoption.

So far, I’ve compiled a list of 2025 KBW speaker projects that potentially have a chance of being listed on Korean exchanges.

This does not mean that these projects will automatically be listed in Korea.

However, looking at past cases, participation in KBW has clearly had a direct or indirect impact on enabling KRW trading for overseas project tokens.

The likelihood increases even more for projects that are not only on the speaker list but also actively participate as sponsors.

It seems that sponsoring the event—providing direct financial support—carries more weight than simply appearing as a speaker, which likely results in preferential consideration.

Therefore, in the next piece, I plan to review the KBW 2025 sponsor list, compare it with last year’s, highlight projects that are both speakers and sponsors, and rank which of these projects are most likely to achieve KRW listings.