Major domestic financial firms and fintech companies are meeting with senior officials from Tether, the issuer of dollar-based stablecoins like USDT and USDC. According to the financial sector on the 8th, Jin Ok-dong, the chairman of Shinhan Financial Group, is holding a meeting with Tether representatives at their Seoul headquarters. Tether’s representatives include Vice President Marco Dal Lago, who oversees global strategy, Quinn Lu in charge of the Asia-Pacific region, and Andre Kim, a manager for the Latin American region.
They will discuss industry trends and insights in the stablecoin market and explore ways to build mutual networks. Chairman Jin has been directly engaging with global stablecoin issuers, following his meeting with Heath Tarbert, the President of Circle, the issuer of USDC, on the 22nd of last month.
Additionally, Jo Young-seo, the Vice President of KB Kookmin Bank, plans to meet with Tether representatives this week, focusing on AI and digital transformation. Woori Financial Group and Hana Financial Group already met with Tether representatives during their visit last month and, while there are no set plans for this visit, they remain open to the possibility.
The ongoing contact between major domestic financial groups and global stablecoin operators is interpreted as an expectation to expand cooperation based on digital assets. Tether representatives, who are visiting Korea to attend a domestic blockchain conference, are also planning meetings with local fintech firms.