ChainCatcher News, executives from Tether and Circle will meet this week with the CEOs of several top financial groups in South Korea, including Shinhan Financial Group CEO Jin Ok-dong and Hana Financial Group CEO Ham Young-joo. The discussions will focus on the potential distribution and use of USD stablecoins in South Korea, as well as the issuance of KRW-backed stablecoins.

This meeting comes as South Korea prepares to launch a stablecoin legal framework in October this year, amid differing opinions on stablecoin regulation between the ruling and opposition parties in South Korea.