Shinhan Financial partners with Visa to build stablecoin infrastructure

The alliance focuses on the full stablecoin lifecycle, including issuance, remittance, and redemption processes. By leveraging Visa’s global digital payment technology, Shinhan intends to move beyond isolated blockchain experiments toward a robust infrastructure capable of supporting card payment settlements. Shinhan Financial Group Chairman Jin Ok-dong noted that the agreement expands the group’s long-standing relationship with Visa into the digital finance sector, involving key subsidiaries such as Shinhan Bank and Shinhan Card.

This initiative complements Shinhan’s ongoing digital asset experiments, including recent pilot programs on the Solana blockchain and participation in the Bank of Korea’s tokenized deposit tests. While the financial group continues to explore institutional networks like the Canton Network, the partnership with Visa provides a direct path toward scaling these technologies for real-world financial services. These efforts coincide with South Korean regulators drafting the Digital Asset Basic Act, which will eventually define the legal requirements for won-backed stablecoin issuance and reserve management.