{"id":402609,"date":"2025-08-21T19:42:19","date_gmt":"2025-08-21T14:12:19","guid":{"rendered":"https:\/\/dripp.zone\/news\/tether-and-circle-to-meet-top-south-korean-bank-ceos-report-crypto-news\/"},"modified":"2025-08-21T19:55:52","modified_gmt":"2025-08-21T14:25:52","slug":"tether-and-circle-to-meet-top-south-korean-bank-ceos-report-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/tether-and-circle-to-meet-top-south-korean-bank-ceos-report-crypto-news\/","title":{"rendered":"Tether And Circle To Meet Top South Korean Bank CEOs: Report – Crypto News"},"content":{"rendered":"
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Leading stablecoin issuers Tether and Circle are expected to meet with top executives from South Korea\u2019s largest banks this week, according to local media.<\/p>\n

South Korea\u2019s state-funded Yonhap News Agency reported<\/a> Thursday that representatives from Tether and Circle are scheduled to meet with\u00a0the top executives of South Korea\u2019s four major financial groups. The executives are expected to discuss potential partnerships, the issuance of Korean won-backed stablecoins<\/a> and the distribution of US dollar-backed stablecoins in South Korea<\/a>.<\/p>\n

Shinhan Financial Group CEO Jin Ok-dong and Hana Financial Group CEO Ham Young-joo reportedly have scheduled meetings with Circle president Heath Tarbert on Friday. Young-joo is also reportedly scheduled to meet a Tether official on the same day.<\/p>\n

KB Financial Group\u2019s chief digital and information technology officer Lee Chang-kwon and Woori Bank president Jeong Jin-wan also reportedly plan to meet Circle\u2019s Tarbert at an undisclosed time. These represent South Korea\u2019s \u201cBig Four<\/a>\u201d banking groups, designated<\/a> by the Financial Services Commission as domestic systemically important banks.<\/p>\n

South Korea readies stablecoin regulation<\/h2>\n

The news follows reports from earlier in the month that South Korea is preparing to introduce a regulatory framework for a won-backed stablecoin<\/a>. South Korean regulator, the Financial Services Commission, will purportedly unveil the bill as part of a second phase of the nation\u2019s Virtual Asset User Protection Act.<\/p>\n

In early July, shares of at least three major South Korean banks surged following the filing of trademarks for stablecoins<\/a>. This was followed by statements by the banking arm of South Korean IT giant Kakao Corporation announcing that the institution \u201cplans to participate\u201d in the stablecoin market actively<\/a>.<\/p>\n

South Korea\u2019s pivot to focus on stablecoin regulation follows the late June suspension of the country\u2019s central bank digital currency (CBDC) tests in favor of focusing on supporting won-backed stablecoins instead<\/a>. Prior to the development, eight major South Korean banks were planning to team up to launch a stablecoin pegged to the local fiat currency<\/a> by next year.<\/p>\n

Related:<\/strong><\/em> <\/em>Bank of Korea to launch virtual asset committee to monitor crypto<\/strong><\/em><\/a><\/p>\n

Just the last of many high-profile meetings<\/h2>\n

The South Korean meetings are the latest in a series of high-level engagements by Tether and Circle as global regulators move toward clearer rules for stablecoins.<\/p>\n