Shinhan Financial Group Strengthens Future Finance Collaboration With Visa... To Jointly Design Korea-Style Stablecoin Business Model

Shinhan Financial Group is strengthening its collaboration with Visa Group to advance future finance initiatives, including the joint design of a Korea-style stablecoin business model.

Jin Oakdong, Chairman of Shinhan Financial Group (left), poses for a commemorative photo on the 24th at Shinhan Financial Headquarters in Jung-gu, Seoul, after signing a strategic business agreement for future financial business promotion with Chris Newkirk, President of Visa Group. Provided by Shinhan Financial

On the 26th, Shinhan Financial Group announced that it had signed a strategic business agreement with Visa Group at its headquarters in Jung-gu, Seoul, to promote future finance businesses such as digital assets, AI-based payments, and B2B services. This agreement is a concrete follow-up to the strategic cooperation direction in the future finance sector discussed by the two companies' management teams in April this year.

The two companies will first collaborate on establishing financial infrastructure for the utilization of stablecoins. Shinhan Financial Group plans to verify core functions such as issuance, remittance, and redemption using Visa’s stablecoin platform, and jointly design a Korea-style business model tailored to the domestic financial environment.

In addition, the two sides agreed to jointly conduct proof-of-concept and develop next-generation financial services, focusing on the application of stablecoins in financial services such as credit card payment settlements, implementing AI-based future payment models, and expanding B2B and B2C payment businesses.

Going forward, Shinhan Financial Group will combine the financial capabilities of its key subsidiaries—including its banking, credit card, and Jeju Bank units—with Visa’s global payment network and digital technologies to jointly respond to changes in the digital financial environment. Through this collaboration, the company aims to lead the future finance ecosystem both domestically and internationally.

Jin Okdong, Chairman of Shinhan Financial Group, stated, "Through this agreement, we have expanded our longstanding partnership with Visa to encompass all aspects of digital finance. Going forward, we will continue to design new future finance models by combining Shinhan’s financial capabilities with Visa’s global infrastructure, delivering differentiated financial experiences to customers."

This content was produced with the assistance of AI translation services.