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Shinhan Financial Group will work with Visa Group to pursue future finance businesses including digital assets, Yonhap News Agency reported, citing a company statement released today.
As part of the agreement, Shinhan Financial plans to use Visa’s stablecoin platform to test core functions including issuance, remittances and redemptions, while jointly designing a South Korea-tailored business model suited to the domestic financial environment. The two sides also plan to cooperate on using stablecoins for financial services such as card payment settlements, developing AI-based future payment models, and expanding B2B and B2C payment businesses.