Shinhan Financial to partner with Visa on stablecoins and future finance

Shinhan Financial Group will work with Visa Group to pursue future finance businesses including digital assets, Yonhap News Agency reported, citing a company statement released today. As part of the agreement, Shinhan Financial plans to use Visa’s stablecoin platform to test core functions including issuance, remittances and redemptions, while jointly designing a South Korea-tailored business model suited to the domestic financial environment. The two sides also plan to cooperate on using stablecoins for financial services such as card payment settlements, developing AI-based future payment models, and expanding B2B and B2C payment businesses.