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South Korea’s Big Four Banks Set Meetings With Tether and Circle on Stablecoin Plans

The meetings precede an October proposal expected to set a stablecoin rulebook.

Tether and Circle to meet South Korea’s top banks on stablecoin adoption
Heath Tarbert, president of Circle Internet Group Inc., speaks during an interview with Yonhap News Agency at a hotel in Seoul on Aug. 21, 2025, during his visit to South Korea. (Yonhap)
Heath Tarbert, president of Circle Internet Group Inc., smiles during an interview with Yonhap News Agency at a hotel in Seoul on Aug. 21, 2025, during his visit to South Korea. (Yonhap)
A rendered image of stablecoins (Yonhap)

Overview

  • Shinhan CEO Jin Ok-dong and Hana CEO Ham Young-joo have scheduled separate meetings Friday with Circle President Heath Tarbert, with Ham also set to meet a Tether official.
  • KB Financial Group CDIO Lee Chang-kwon and Woori Bank President Jeong Jin-wan are planning meetings with Tarbert, though details have not been finalized.
  • Discussions are expected to cover distribution and use of dollar-pegged stablecoins in South Korea as well as potential issuance of won-backed tokens.
  • Circle’s Heath Tarbert told Yonhap the company is open to the possibility of won-backed stablecoins but is not pursuing a specific deal during this visit.
  • Tarbert met Bank of Korea Governor Rhee Chang-yong and said Circle will align with Korea’s evolving laws as lawmakers and regulators work toward a stablecoin framework targeted for October.