South Korea's Shinhan Financial Group announced Wednesday that it has signed a strategic business agreement with Visa to collaborate on stablecoins, AI, and B2B payments for its "future finance" business.
Under the agreement, the two companies will prioritize building a stablecoin-based financial infrastructure.
Shinhan plans to utilize Visa's stablecoin platform to verify issuance, remittance, and redemption, and jointly design a Korea-specific business model tailored to the domestic financial environment.
The pair also plans to integrate stablecoins into joint pilot projects involving card payment settlements, the development of AI-based future payment models, and the expansion of B2B and B2C payment businesses.
"Through this agreement, we have expanded our long-standing partnership with Visa to the broader digital finance sector," said Jin Ok-dong, CEO of Shinhan Financial Group.
