Tether, the issuer of the widely used stablecoin USDT, is strengthening its presence in South Korea as its executives held high-level meetings with some of the country’s leading commercial banks. The discussions, which took place on September 8, 2025, with Shinhan Bank, follow similar engagements last month with KEB Hana and Woori Financial Group. These meetings highlight the growing interest of traditional financial institutions in stablecoins and digital assets.
Expanding Tether’s Regional Influence
Tether’s delegation included key figures such as Marco Dal Lago, Vice President and Head of Global Expansion and Strategic Partnerships; Quynh Le, Regional Expansion Lead for the APAC region; and Andres Kim, Expansion Manager based in Bolivia. These representatives met with Shinhan Bank executives at the bank’s central Seoul headquarters to explore potential collaboration opportunities.
According to local media reports, the summit focused on how Tether and Shinhan could build mutual networks and integrate stablecoin operations within the broader financial ecosystem. The talks also coincided with a domestic blockchain conference in Seoul, providing Tether a platform to engage with other fintech companies, including the neobank Toss.
Shinhan Bank Chairman Jin Ok-dong emphasized that stablecoins were becoming a core component of future financial infrastructure. His engagement with Tether marks the bank’s second interaction with a major U.S. stablecoin issuer in a month, following a meeting with Circle’s USD Coin team.
Institutional Confidence in Stablecoins
These discussions are not occurring in isolation. The rapid growth of stablecoins and their adoption by commercial banks in Asia has caught global attention. Tether has consistently sought to position USDT as a bridge between traditional finance and digital assets. By engaging with top Korean banks, Tether hopes to reinforce institutional confidence and ensure that its stablecoin remains a reliable medium for transactions and settlement.
The meetings signal a strategic push by both parties. For Tether, collaboration with major banks ensures access to regulated channels for stablecoin issuance and distribution. For South Korean financial institutions, stablecoins offer an opportunity to modernize payment systems, expand digital offerings, and compete with non-banking technology firms entering the cryptocurrency space.
Regulatory Landscape in South Korea
The timing of these talks aligns with ongoing deliberations in South Korea regarding the regulation of KRW-pegged stablecoins. Lawmakers are currently split over whether major tech firms and startups should be allowed to issue stablecoins alongside banks. Conservative voices argue that issuance should remain restricted to commercial banking institutions to ensure financial stability and regulatory oversight.
President Lee Jae-myung’s administration has expressed interest in allowing major companies to issue stablecoins as part of its broader digital finance strategy. Several prominent tech firms, including Kakao and Naver, have already registered KRW stablecoin-related trademarks, signaling their intent to enter the market. Hardware giants like Samsung and LG are also exploring similar initiatives.
By holding talks with Tether, South Korean banks are positioning themselves to participate in stablecoin development while aligning with potential regulatory frameworks. Experts believe that such collaboration could fast-track the integration of stablecoins into mainstream banking services, including cross-border payments and domestic settlements.
Global Implications for Stablecoins
Tether’s outreach in South Korea reflects a broader trend of institutional adoption of stablecoins worldwide. Stablecoins such as USDT and USDC are increasingly used by banks, fintech firms, and corporations for liquidity management, remittances, and DeFi applications. As governments and regulators clarify frameworks, strategic partnerships between issuers like Tether and banks could become standard practice, bridging the gap between crypto markets and traditional finance.
In addition to Shinhan, Tether executives have ongoing discussions scheduled with KB Kookmin Bank and possibly other major institutions. These talks demonstrate Tether’s long-term strategy to foster cooperation with established financial players while navigating regulatory uncertainty.
The Role of Stablecoins in Digital Finance
Stablecoins are gaining traction because they combine the advantages of cryptocurrencies with the stability of fiat currencies. USDT, for instance, is pegged 1:1 to the U.S. dollar, providing a reliable store of value and medium of exchange. Banks in South Korea and other parts of Asia are increasingly viewing stablecoins as an opportunity to modernize financial infrastructure, reduce settlement times, and facilitate international transactions.
The engagement between Tether and top Korean banks also points to a future where stablecoins could integrate seamlessly into everyday banking operations. If regulators provide clear guidelines, collaborations like these could accelerate the adoption of digital assets across traditional financial systems, paving the way for a hybrid model where fiat and crypto coexist.
Looking Ahead
While South Korean lawmakers continue debating stablecoin issuance policies, Tether’s proactive approach in building relationships with leading banks positions it to be a key player in the region. Shinhan, KEB Hana, Woori, and other institutions stand to benefit from insights into stablecoin mechanics, regulatory trends, and technical infrastructure.
For investors and market participants, these developments indicate a maturing stablecoin ecosystem, where strategic partnerships between issuers and banks could drive broader adoption, improve liquidity, and create innovative financial products.
As global demand for digital currencies grows, collaborations like these will likely serve as benchmarks for how stablecoins can integrate into mainstream financial systems while adhering to regulatory standards. Tether’s ongoing engagement in South Korea is just one example of the expanding global footprint of digital finance, signaling a transformative period for the intersection of crypto and traditional banking.
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