Shinhan Financial and Visa explore stablecoin payment services

• Shinhan Financial Group has partnered with Visa to explore stablecoin and digital asset services.
• The companies will test stablecoin issuance, remittances and redemption using Visa’s infrastructure.
• They will also examine stablecoin card settlements and AI-based payment models.

Shinhan Financial Group has announced a strategic partnership with Visa to develop digital asset services.

The companies will use Visa’s stablecoin infrastructure to test issuance, remittances and redemption.

They also plan to explore stablecoin-based card payment settlements under the partnership.

Shinhan Financial and Visa will develop a business model suited to South Korea’s regulatory environment.

The companies will also examine AI-based payment models and expanded B2B and B2C payment services.

The partnership reflects growing interest among traditional financial institutions in stablecoin payment applications.

The companies have not announced a commercial launch date, while the proposed services remain subject to regulatory requirements.