Shinhan and Visa to test stablecoin payments and issuance

Shinhan Financial Group is partnering with Visa to explore stablecoin-based payment infrastructure, according to CoinDesk. Under the initiative, Shinhan will use Visa’s platform to test the issuance, remittance and redemption of stablecoins, alongside business-to-business settlement applications. The financial group also plans to develop new payment models using artificial intelligence. The project places stablecoins within a broader payments-focused trial, covering both the creation and movement of digital assets as well as their conversion back through redemption. Details on the stablecoin involved, the testing timeline and the expected scale of the program were not provided in the source material. The collaboration links a major South Korean financial group with Visa as both companies examine potential uses for digital-asset rails in payments and corporate transactions.