Shinhan and Visa Team up to Test Stablecoin Issuance and B2B Settlements in South Korea
The partnership will test issuance, transfer and redemption using Visa’s network as Shinhan expands stablecoin work into card settlement and AI-based payments.
- On Wednesday, Shinhan Financial Group signed a strategic agreement with Visa to build stablecoin payment infrastructure, testing issuance, transfer, and redemption processes designed for South Korea's financial system.
- Shinhan Financial Group Chairman Jin Ok-dong said the deal expands their existing relationship with Visa into digital finance, involving subsidiaries including Shinhan Bank, Shinhan Card, and Jeju Bank.
- With around 134 trillion won in assets under management, Shinhan integrates stablecoins into B2B and B2C payments, positioning Visa ahead of Mastercard in bank-native settlement infrastructure.
- Coinciding with the Digital Asset Basic Act, the initiative advances as South Korea's policymakers continue debating issuer eligibility and reserve oversight for won-denominated stablecoins.
- Shinhan plans to verify stablecoin lifecycles through Visa's platform before launching services, while the Bank of Korea maintains that banks should lead consortiums for won-backed stablecoin issuance.
11 Articles
11 Articles
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Shinhan, a South Korean financial group, has agreed to test issuing, sending, and cashing in stablecoins on Visa’s payment platform. This is Shinhan’s second major stablecoin partnership in four months as Seoul gets closer to creating formal rules for the stablecoin sector. Shinhan builds on Visa’s platform On August 24, at Shinhan’s headquarters in central Seoul, the two businesses signed a strategic business agreement. Shinhan wants to run sta…
Shinhan and Visa Test Stablecoin Settlement for Cards
What Are Shinhan and Visa Building? Shinhan Financial Group has signed a strategic agreement with Visa to develop stablecoin infrastructure and test new payment models in South Korea, extending their existing relationship into digital assets, artificial intelligence and business payments. The companies will initially focus on stablecoin issuance, transfers and redemption. Shinhan plans to use Visa’s stablecoin platform to test those functions wh…
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