Shinhan Financial Group, one of South Korea’s five largest financial conglomerates, is planning to build stablecoin infrastructure and develop AI-powered payment models together with Visa, according to South Korean news outlet FNNews.
Seoul-based Shinhan intends to leverage Visa’s stablecoin platform to validate core functions such as issuance, remittance, and redemption, while also jointly crafting a business model tailored to Korea.
This deal marks the first time a top-tier South Korean financial group has formally adopted Visa’s enterprise stablecoin infrastructure, which was launched in July, to test a complete domestic settlement system. The agreement gives Visa an advantage over Mastercard in bank-native stablecoin settlement infrastructure within South Korea. Mastercard’s crypto partnerships in the country have so far not reached full stablecoin settlement integration.
LATEST: 🇰🇷 South Korea’s Shinhan Financial Group signed a deal with Visa to build stablecoin-based financial infrastructure for card payments and B2B/B2C business. pic.twitter.com/ROXLnP8fco
— CoinMarketCap (@CoinMarketCap) August 26, 2026
Visa and Shinhan also plan to conduct pilot projects that cover integrating stablecoins into bank card payment settlement and expanding business-to-business (B2B) and business-to-customer (B2C) payments.
Jin Ok-dong, chairman of Shinhan Financial Group, stated, “We will combine Shinhan’s financial capabilities with Visa’s global infrastructure to jointly design new future finance models.”
This deal comes as South Korea advances its Digital Asset Basic Act, a broad framework that includes stablecoins, VASP licensing, and crypto exchange-traded funds (ETFs).
Shinhan, which manages approximately 134 trillion won ($100 billion) in assets, has other crypto projects in development. According to a Solana X post, its asset management division signed a four-party agreement with the Solana Foundation, Etherfuse, and Orca earlier this month to test a Korean won-denominated tokenized fund. In April, Shinhan and Solana partnered to trial stablecoin payment systems.
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