Crypto/Finance
Major South Korean Banks to Discuss Stablecoin Collaborations with Tether and Circle
Executives from top South Korean financial institutions will meet with representatives from Tether and Circle to discuss the potential integration of stablecoins into the country's financial system.
1 min read
In a significant development, South Korea’s leading financial institutions are set to convene with officials from Tether and Circle, the companies behind the largest stablecoins.
Key Points:
- Executives from Shinhan, Hana, KB Financial, and Woori Bank will explore the issuance and use of dollar-pegged and won-pegged stablecoins.
- This initiative aligns with President Lee Jae Myung’s efforts to foster a stablecoin market in South Korea.
- Recent actions include halting the issuance of a central bank digital currency (CBDC) in favor of stablecoin projects.
The meetings are anticipated to take place this week, with Shinhan’s CEO Jin Ok-dong and Hana’s CEO Ham Young-joo scheduled to meet with Circle’s President Heath Tarbert.
