Shinhan Financial Partners with Visa for Stablecoin Payment Infrastructure

South Korea's Shinhan Financial Group has partnered with Visa to develop stablecoin payment infrastructure. The agreement will initially focus on testing the infrastructure needed to issue, transfer, and redeem stablecoins using Visa's existing technology.

The partnership aims to integrate stablecoins into financial services operated by Shinhan, moving beyond isolated blockchain trials toward payment infrastructure that could work across several businesses.

Shinhan plans to bring its main subsidiaries, including Shinhan Bank, Shinhan Card, and Jeju Bank, into the work. Visa will contribute its international payment network and digital payment technology as the companies develop the projects.