Tether and Circle, leading stablecoin issuers, are set to meet with executives from South Korea's major banks. According to local media, these meetings, involving representatives from the four largest financial groups, aim to discuss potential partnerships, the issuance of Korean won-backed stablecoins, and the distribution of US dollar-backed stablecoins. Shinhan Financial Group CEO Jin Ok-dong and Hana Financial Group CEO Ham Young-joo will meet with Circle president Heath Tarbert, while Young-joo is also expected to talk with a Tether official. Meetings are also planned with KB Financial Group and Woori Bank stakeholders. This follows South Korea's preparations for stablecoin regulation, with the Financial Services Commission poised to unveil a new bill as part of its Virtual Asset User Protection Act. The country's banks are shifting focus towards stablecoin regulation amid developments in their central bank digital currency tests and previous banking initiatives related to cryptocurrency.

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