South Korea’s Banking Chiefs Set Talks With Tether and Circle as Adoption Grows

Circle and Tether executives are set to meet this week with leaders of South Korea’s largest financial groups. Including Shinhan, Hana, KB, and Woori.

The discussions will focus on the distribution and use of USDC and USDT in the country, as well as the potential issuance of won-backed stablecoins. Circle President Heath Tarbert is scheduled to meet Shinhan CEO Jin Ok-dong and Hana CEO Ham Young-joo on Friday. With Ham also expected to meet an official from Tether. Additional meetings with KB and Woori executives are reportedly in planning. These talks come as South Korea moves toward a new legal framework for stablecoins. Expected in October, amid political divisions over regulation.

The ruling People Power Party and the opposition Democratic Party have filed competing proposals, with disagreements on issues such as interest payments and capital restrictions. Analysts say that partnerships between global stablecoin issuers and Korean banks could strengthen Circle and Tether’s foothold in the region. Even as local firms like Kakao prepare their own won-pegged tokens.

Clever Robot News Desk 22^th August 2025