[Digital Today reporter Ji-young Lee] The Korea Fintech Industry Association discussed possible cooperation with the Bank of England, the UK central bank, in digital assets and cross-border payments. Korean fintech companies also took part, sharing updates on key businesses including stablecoin-based trade settlement, asset tokenisation and AI agent payments.

The Korea Fintech Industry Association said on Oct. 20 it held a digital finance cooperation meeting with Bank of England officials at O2 Tower in Yeouido, Seoul.

The discussion focused on blockchain-based trade settlement, AI agent payment infrastructure, tokenisation of real-world assets, and simultaneous settlement of securities and payments. It also covered ways to improve cross-border remittances and payment procedures by linking e-wallets.

Participants agreed that institutional safeguards are needed to protect consumers and investors and to ensure the stability of payment systems in order to expand the use of digital financial services.

DSRV proposed a proof-of-concept project for stablecoin-based trade settlement as a bilateral cooperation task. On AI agent payments, it said discussions are needed on transaction liability and user protection.

Wavridge stressed the importance of regulatory compliance and investor protection to build trust in the tokenisation market. Travel Wallet pointed to the potential to cut costs and time in overseas remittances and payments through cross-border e-wallet linkages.

Jong-hyun Kim (김종현), chairman of the Korea Fintech Industry Association, said Britain is an attractive cooperation partner for Korean fintech companies. He said he hopes the Bank of England and the British Embassy in Seoul will play a connecting role so exchanges between companies in both countries can develop into practical cooperation.

Tom Mutton, deputy governor for financial stability at the Bank of England, said there is significant scope for cooperation in e-wallets, asset tokenisation and cross-border payments. He said he hopes to share experiences with South Korean financial institutions and companies and seek ways to cooperate.