Shinhan and Visa Partner on Stablecoin Platform

MGR Online•Economy•26m ago

Reader Briefing

Shinhan Financial Group has signed a strategic partnership with Visa to develop a financial infrastructure based on stablecoins and AI.

•Shinhan Financial Group and Visa are collaborating to integrate stablecoins into payment systems and B2B/B2C networks.
•The partnership aims to utilize Visa's stablecoin platform for the issuance, transfer, and redemption of assets tailored for South Korea.
•Shinhan Financial Group reported a recent quarterly net profit of 1.82 trillion won or approximately 1.3 billion dollars.
•The initiative aligns with the Digital Asset Basic Act in South Korea.

•Shinhan Financial Group signed a strategic cooperation agreement with Visa to develop a modern financial infrastructure using a stablecoin platform.
•The partnership aims to reform card payment systems, corporate transaction networks, and AI-driven financial models.
•Shinhan Financial Group disclosed a recent quarterly net profit of 1.82 trillion won, approximately 1.3 billion dollars.
•Shinhan Financial Group will utilize subsidiaries including Shinhan Bank, Shinhan Card, and Jeju Bank to collaborate with Visa's global network.
•Shinhan Card partnered with Solana Foundation in April 2026 to test a stablecoin payment system on a Layer 1 blockchain.
•Shinhan Financial Group's asset management division signed an MOU with Solana Foundation, Etherfuse, and Orca in early August 2026 to trial won-denominated token funds.
•South Korea is pushing the Digital Asset Basic Act, which covers stablecoin regulation, virtual asset provider licenses, and cryptocurrency ETFs.
•Clearer legal frameworks in South Korea are expected to encourage institutional investors to enter the blockchain ecosystem.

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Shinhan Financial Groupℹ️

A leading South Korean financial institution partnering with Visa for stablecoin infrastructure.

Visa

A global payment network providing a stablecoin platform for the partnership with Shinhan Financial Group.

Shinhan Bankℹ️

A subsidiary of Shinhan Financial Group collaborating with Visa's network.

Shinhan Cardℹ️

A subsidiary of Shinhan Financial Group that tested a stablecoin payment system with Solana Foundation.

Jeju Bank

A subsidiary of Shinhan Financial Group collaborating with Visa's network.

Solana Foundation

An organization that partnered with Shinhan Card and Shinhan Financial Group's asset management division.

Etherfuse

An entity that signed an MOU with Shinhan Financial Group's asset management division for won-denominated token funds.

An entity that signed an MOU with Shinhan Financial Group's asset management division for won-denominated token funds.

Jin Ok-dong(จิน อ๊กดง)

The Chief Executive Officer of Shinhan Financial Group.

Digital Asset Basic Act(พระราชบัญญัติพื้นฐานด้านสินทรัพย์ดิจิทัล)

A South Korean law covering stablecoin regulation and virtual asset provider licenses.

South Korea(เกาหลีใต้)ℹ️

The country where Shinhan Financial Group is based and where the Digital Asset Basic Act is being pushed.

Thailand(ไทย)ℹ️

A regional financial system mentioned as needing to adapt to digital financial reforms.