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36m ago

South Korea’s Top Banks Set Talks With Circle and Tether on Stablecoin Partnerships

The outreach reflects banks positioning ahead of October proposals on issuer eligibility, reserve quality, and interest policy.

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

  • Industry officials report that leaders from Shinhan, Hana, KB, and Woori arranged meetings this week with executives from Circle and Tether.
  • Shinhan CEO Jin Ok-dong and Hana CEO Ham Young-joo are scheduled to meet Circle President Heath Tarbert on Friday, with Ham also slated to meet a Tether official the same day.
  • KB’s Chief Digital & IT Officer Lee Chang-kwon and Woori Bank President Jeong Jin-wan are planning meetings with Tarbert, though details remain unconfirmed.
  • Discussions are expected to cover distribution and transactions of dollar-pegged stablecoins in South Korea and potential issuance of won-backed tokens.
  • The talks coincide with a pro-crypto policy push and drafting of stablecoin rules targeted for October, as the Bank of Korea weighs CBDC and deposit-token approaches.