"Circle visits Korea… Seeking potential USDC collaboration with Korean financial and political sectors?"

Circle, the issuer of the stablecoin USDC, is expected to seek collaboration possibilities in the Korean market by meeting with Hana Bank as well as representatives from the country’s financial industry, political sectors, media, and other industries.

According to industry reports on the 17th, Heath Tarbert, the President of Circle, will visit Korea this week to carry out a range of meetings with representatives from financial institutions, fintech, the government, and more. Previously, in May, Circle signed a comprehensive Memorandum of Understanding (MOU) with Hana Bank in a virtual format and is known to be discussing specific ways to collaborate further. This visit is interpreted as going beyond mere promotion, aiming to expand the circulation of USDC and establish a foundation for cooperation.

Industry observers see this move as a strategy to strengthen its regulation-friendly image and to leverage the size of the domestic digital asset market and financial infrastructure to expand the circulation of USDC and its payment network (CPN).