Tether, the firm behind the Stablcoin Usdt, met with officials of the Shinhan Bank for Financial Heavyweight of South Korea on September 8.
The money from the media of South Korea reported that Tether officials are in the country to attend a domestic blockchain conference.
But, according to reports, executives are also planning meetings with a variety of national end companies, including the launch of Neobank.
Tether, Korean banks have Stablecoin conversations
The media wrote that several Tether executives attended the Shinhan meeting, including Vice President Marco Dal Lago, the head of global expansions and strategic associations of the firm.
Quynh Le, the Tethers Regional Expansion leader in the APAC area, and Andres Kim, the Bolivia headquarters manager of the firm, also attended.
The Summit is the second meeting of the president of Shinhan Financial Group, Jin Ok-Dong, with an important EE. UU. UU. In the space of one month.
Jin and several rival bosses of the South Korean bank met Heath Tarbert, head of the USD coin emitters circle, during the latter to Seoul at the end of last month.
An official of the Shinhan Financial Group told the media representatives that Shinhan and Tether “plan to continue discussing ways to build mutual networks.”
South Korea legislators continue to advance with plans to regulate KRW’s stable. Obviously detecting an opportunity, both Tether and Circle have recently sent delegations to Seoul.
Cho Young-Seo, vice president of KB Kookmin Bank, will also meet with representatives of Tether on September 10.
Keb Hana Financial Group and Woori Financial Group have already talked to Tether’s officials about Stablecoins. The parties celebrated meetings on August 26.
While there are no immediate plans for more meetings during the visit of tied officials, the “possibility of more conversations remains open,” Coneys wrote.
Another important financial group, Nononghyup (NH), has also previously sent its Blockchain and Cryptoasset division leaders to meet Tether executives.
Legislation at a dead point
The legislators of South Korea are currently divided on the issue of whether they should allow the main technological companies and new IT companies to emit Stablcoins, in addition to large financial groups.
Conservative voices believe that only the commercial banking sector should be able to broadcast KRW Stablcoins.
Monys concluded that “global companies with established issuance and distribution networks” can continue to discuss collaboration options with national financial institutions until legislators reach an agreement.
Allowing South Korean companies to issue Stablecoins was a key manifest commitment to President Lee Jae-Myung before the June elections.
Since Lee came to power, dozens of the main banks and the IT companies have registered trademarks related to the KRW stable.
These include Internet giants Kakao and Naver. Both companies operate widely used electronic payment platforms.
Experts believe that Stablecoin’s integration would be simple for both Kakao and Naver. Meanwhile, other experts think that heavy hardware weights such as Samsung and LG could also enter the fray.
Executives after Tether have Stablecoin meetings with the main Korean commercial banks first appeared in Cryptonews.
