Shinhan Financial Group and Visa Join Forces on Stablecoin Infrastructure

Shinhan Financial Group has partnered with Visa to develop stablecoin payment infrastructure in South Korea. The deal, announced on August 25, will cover the full lifecycle of stablecoins: issuance, remittance, and redemption.

The partnership aims to design business models that integrate stablecoins into card payment settlements and both B2B and B2C transactions, while navigating the country's evolving regulatory framework. The companies will leverage Visa's stablecoin platform to run verification tests on core stablecoin functions within Shinhan's existing banking infrastructure.

The collaboration extends beyond financials, with joint pilot projects exploring AI-driven payment solutions that could enhance fraud detection and dynamic pricing. This isn't a new endeavor for either party: Shinhan Card previously ran proof-of-concept tests with Visa, Mastercard, and Solana.