Shinhan Financial taps Visa for stablecoin payments and settlement push

South Korea’s Shinhan Financial Group has signed a strategic agreement with Visa to build stablecoin payment infrastructure while expanding its work into AI-powered payments and business transactions. Summary Shinhan Financial and Visa will test stablecoin issuance, transfers and redemption using Visa’s infrastructure. The companies plan to develop a Korea focused stablecoin model and test its use in card payment settlements. The partnership also covers AI based payment models and expanded B2B and B2C payment services. Shinhan has already tested stablecoin payments on Solana and expanded into tokenized financial products. Shinhan Financial Group said Wednesday that the partnership will initially focus on testing the infrastructure needed to issue, transfer and redeem stablecoins using Visa’s existing stablecoin technology, with the two companies also planning to design a model suited to South Korea’s financial system. Shinhan Visa stablecoin partnership puts infrastructure first Under the agreement, Shinhan and Visa will examine how stablecoins can be integrated into financial services operated by the Korean group, moving beyond isolated blockchain trials toward payment infrastruct...