Tether and Circle Meet South Korea’s Big Four Banks to Explore Stablecoin Partnerships

Tether and Circle, major players in the stablecoin market, have scheduled meetings with leaders from South Korea’s four largest banks this week. These talks aim to explore potential partnerships for distributing US dollar-backed stablecoins like USDT and USDC within South Korea, as well as issuing Korean won-based stablecoins. This comes as South Korea prepares new regulations for stablecoins, expected to be implemented in October. The country’s government has paused its digital won project while these rules are finalized, leading many banks to prepare for the stablecoin market.