Shinhan Partners with Visa on Stablecoin Payments

South Korean financial giant Shinhan has made significant strides in embracing cryptocurrency and blockchain technology. The company has signed a deal with Visa to enable stablecoins, artificial intelligence (AI), and business-to-business (B2B) payments.

The partnership aims to tap into the $30 trillion tokenization boom, with Shinhan launching an offshore won-denominated tokenized fund on Solana, mirroring BlackRock's model. This move positions Solana as a leader in project count and supports its ability to process transactions efficiently.

In other related news, Visa is seeking a new stablecoin settlement partner after BVNK's sale to Mastercard. The company requires a partner with operational licenses in the United States, the United Kingdom, Canada, and Singapore.