KB Financial to meet with Circle CEO to discuss stablecoin cooperation

Suehyeon Lee

Summary

KB Financial Group said it is discussing expanding cooperation with global stablecoin operator Circle.
KB Financial said it successfully completed a proof of concept (PoC) last year using Circle Mint.
The two companies said they are reviewing various forms of cooperation, including domestic use of USDC, cross-border payments, and issuance of a won-backed stablecoin.

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KB Financial Group will discuss expanding cooperation with global stablecoin operator Circle.

According to Yonhap News on the 6th, KB Financial Group executives are set to meet Jeremy Allaire, Circle’s founder and CEO, on the 13th to discuss collaboration plans related to stablecoins.

KB Financial said it successfully completed a proof of concept (PoC) in the second half of last year using Circle’s stablecoin issuance and management platform, “Circle Mint.” Later that year, it also met with key executives including Circle President Heath Tarbert to discuss co-developing business models.

The two sides are reportedly reviewing cooperation across a range of areas, including the domestic use of the global stablecoin USDC, cross-border payments, and the issuance of a won-backed stablecoin.

A KB Financial Group official said, “We expect this meeting to expand the partnership between the two companies to the next level.”