KB Financial Group will hold talks with Jeremy Allaire, chief executive officer (CEO) of Circle, the issuer of the dollar-based stablecoin USD Coin (USDC).
KB Financial Group said on the 6th that on the 13th Allaire, the CEO, will discuss cooperation plans related to stablecoins with KB Financial Group executives. Since last year, the two companies have been discussing various areas, including plans to use the global stablecoin USDC in Korea, cooperation in international payments, and a review of the possibility of issuing a won-based stablecoin.
The companies' cooperation began with an executive meeting in June last year. After the meeting, in the second half of last year, KB Financial Group successfully completed a proof of concept (PoC) using Circle Mint, Circle's platform for issuing and managing stablecoins.
In this process, KB Financial Group demonstrated issuing, remitting, and withdrawing stablecoins through fiat deposits, as well as exchange between stablecoins. It is currently in discussions with Circle on ways to use USDC in Korea, Blockchain-based overseas trade settlement and remittances, and the possibility of issuing a won stablecoin.