According to ChainCatcher, the four major banks in South Korea (KB Kookmin Bank, Shinhan Bank, Hana Bank, and Woori Bank) are accelerating preparations for stablecoin issuance. The banks plan to meet with the CEO of Circle this month to discuss cooperation on the circulation of the US dollar stablecoin in South Korea, international remittances, and the issuance of the Korean won stablecoin.
KB Financial Group has converted the 'Stablecoin Division' into a permanent organization. Shinhan Bank is advancing the development of a Korean won stablecoin payment system. Hana Financial Group is actively analyzing related regulations and businesses, while Woori Bank has launched a digital asset team and is applying for trademarks.
