Question 1

What did Shinhan and Visa actually agree to do?

Accepted Answer

They signed a strategic business agreement to verify stablecoin issuance, remittance and redemption using Visa's stablecoin platform, and to jointly design a Korea-specific business model, while also testing card-payment settlement, AI-based payment models, and B2B and B2C payments.

Question 2

How does this connect to Shinhan's earlier Solana deal?

Accepted Answer

In late April, Shinhan Card signed a memorandum of understanding with the Solana Foundation to trial stablecoin payments on Solana's layer-1 blockchain, and in early August Shinhan's asset-management arm joined a four-party pact with the Solana Foundation, Etherfuse and Orca to test a won-denominated tokenized fund.

Question 3

Why are Korean banks moving on stablecoins now?

Accepted Answer

South Korea is finalizing its Digital Asset Basic Act, and lawmakers have discussed limiting won-stablecoin issuance to consortia in which commercial banks hold at least a 51% stake, giving banks like Shinhan an incentive to build stablecoin infrastructure ahead of the rules.

Shinhan Financial Group

Shinhan signs Visa stablecoin deal months after Solana Card trial

One sharp brief.
Every day.

Shinhan Financial Group

Shinhan signs Visa stablecoin deal months after Solana Card trial

One sharp brief.Every day.

One sharp brief.
Every day.