South Korea’s largest financial institutions are set to meet with the issuers of two major stablecoins, Tether and Circle, potentially as early as this week. Shinhan, Hana, KB Financial, and Woori Bank aim to explore possible partnerships that could shape the direction of digital finance in the region.

Circle’s stock soared after the Senate approved a new Stablecoin Bill, signaling increased confidence in the digital currency sector. The legislative move has sparked investor optimism, propelling the company’s shares upward.