Leading stablecoin issuers Tether and Circle are expected to meet with top executives from South Korea’s largest banks to explore potential partnerships and the issuance of stablecoins backed by the Korean won and US dollars. The meetings are scheduled with representatives from the country's four major financial groups, including Shinhan Financial Group and Hana Financial Group. These discussions occur amidst South Korea's preparations for stablecoin regulation, as the Financial Services Commission plans to unveil new regulations as part of the Virtual Asset User Protection Act. This meeting follows previous engagements by Tether and Circle with regulators and banking representatives globally, emphasizing the importance of establishing regulatory clarity in the stablecoin sector. The evolving landscape prompts stablecoin issuers to actively engage with banking authorities to enhance the integration of stablecoins within the financial system.

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