Shinhan Financial Group has signed a strategic cooperation agreement with Visa to jointly advance stablecoins and AI-powered payments.
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According to Yonhap News Agency, Shinhan Financial Group announced today that it has signed a strategic business agreement with Visa Group to jointly advance future financial services including digital assets. Shinhan Financial Chairman Cho Yong-byoung and Visa President Chris Newkirk signed the deal at Shinhan’s Seoul headquarters on the 25th, marking the concrete implementation of cooperation plans discussed by the two sides’ management in April. Under the agreement, Shinhan Financial will leverage Visa’s stablecoin platform to verify core functions such as issuance, remittances and repayments, and jointly design a business model suited to South Korea’s financial environment. The two sides will also collaborate on stablecoin applications in financial services like card payments, AI payment models, and expansion of B2B/B2C payment businesses. Shinhan Financial plans to integrate the capabilities of its key subsidiaries—including its bank, credit card unit and Jeju Bank—with Visa’s network and technology to jointly respond to changes in the financial landscape. Cho Yong-byoung stated: “Our long-term partnership with Visa will extend to the entire field of digital finance. We will work with Visa to design new future financial models and provide differentiated financial experiences for customers.”
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