South Korea\'s financial sector is moving competitively to form digital asset alliances, as brokerages expand exchange investment and token securities while banks and asset managers accelerate partnerships. Shinhan Financial Group signed an agreement with Visa to verify stablecoin platform functions and design models for the domestic market. Woori Bank and Coupang completed a proof of concept for real-time settlement. K Bank, Toss and Jeonbuk Bank also announced tie-ups, while some banks invest directly in custody firms as lawmakers debate digital asset legislation.

Partnerships among banks, fintechs, platforms and blockchain firms around won-denominated stablecoins are accelerating in the second half, with payment and settlement use cases moving into more concrete pilot tests. Companies are running proofs of concept on real-time settlement, on-chain payment flows and links between digital wallets and existing card networks. Cross-border remittances are also emerging as a key testing area. Debate continues over regulation, including issuers, reserve assets and approval requirements.