USDT Expands Reach as South Korea’s Top Banks Explore Stablecoin Partnerships

In a significant development for the cryptocurrency sector, South Korea’s leading financial institutions—Shinhan, Hana, KB Financial, and Woori Bank—are set to initiate discussions with Tether (USDT) and Circle Internet Financial (USDC) this week. These talks aim to explore collaborations for distributing and transacting dollar-pegged stablecoins in South Korea, as well as potentially issuing a won-denominated stablecoin. This move underscores the growing institutional adoption of stablecoins and their role in bridging traditional finance with digital assets. The involvement of major South Korean banks could pave the way for broader stablecoin integration in the country’s financial ecosystem, further solidifying USDT’s position as a global leader in the stablecoin market. As of September 2025, this partnership could signal a bullish trend for stablecoin adoption, with potential implications for liquidity, cross-border transactions, and decentralized finance (DeFi) growth in the region.

South Korea’s Top Banks Explore Stablecoin Partnerships with Tether and Circle

South Korea’s leading financial groups—Shinhan, Hana, KB Financial, and Woori Bank—are poised to engage in discussions with Tether and Circle Internet Financial, the issuers of the world’s largest stablecoins. The meetings, set to begin this week, will focus on potential collaborations for distributing and transacting dollar-pegged stablecoins in the country, as well as exploring the issuance of a won-denominated stablecoin.

The initiative aligns with President Lee Jae Myung’s pro-crypto agenda, which includes establishing a domestic stablecoin market. This follows the Bank of Korea’s decision to shelve its central bank digital currency (CBDC) plans in June, shortly after Lee’s election. Upbit, one of South Korea’s largest crypto exchanges, has already partnered with Naver Pay to develop a stablecoin.

Shinhan CEO Jin Ok-dong and Hana CEO Ham Young-joo are scheduled to meet Circle President Heath Tarbert on Friday. Ham will also hold talks with a Tether representative later the same day. KB Financial and Woori Bank executives are arranging similar discussions with Circle, whose USDC ranks as the second-largest stablecoin behind Tether’s USDT.

Taiwan Indicts 14 in $75M Crypto Laundering Case Tied to CoinW

Taiwanese prosecutors have indicted 14 individuals connected to BitShine exchange in a high-profile case involving the country's largest VIRTUAL currency laundering operation. The group allegedly exploited CoinW exchange franchises to convert fraud proceeds into crypto assets, laundering $75 million over a year while affecting 1,539 victims.

The sophisticated scheme involved setting up over 40 CoinW branches under Bixiang Technology, which masqueraded as legitimate crypto service providers. These outlets collected cash from victims, converted it to USDT, and funneled funds overseas using layered transactions and fake regulatory credentials.

Shi Qiren, identified as the operation's mastermind, orchestrated the strategy while subordinates managed branch operations and investor recruitment. The case highlights growing regulatory challenges as crypto adoption expands across Asia's financial markets.

EU Reconsiders Digital Euro Strategy Amid U.S. Stablecoin Legislation

European Union policymakers are accelerating discussions on launching a digital euro as the U.S. Congress's recent approval of the GENIUS Act intensifies global competition in digital currencies. The legislation, which establishes a regulatory framework for the $288 billion stablecoin market, has raised concerns in Europe about the dominance of dollar-pegged tokens like Tether's USDT and Circle's USDC in cross-border payments.

In a strategic pivot, EU officials are now evaluating whether to deploy the central bank digital currency (CBDC) on public blockchains such as ethereum or Solana, departing from earlier plans for a private, centrally controlled system. The European Central Bank (ECB), which had previously emphasized privacy and security in a closed infrastructure, is reportedly reconsidering decentralized networks to enhance the euro's global circulation and competitiveness against dollar-based digital assets.

The ECB's multi-year digital euro project was initially positioned as a public alternative to private payment systems amid declining cash usage. The U.S. regulatory MOVE has injected urgency into the bloc's deliberations, with some policymakers advocating for blockchain-based solutions to maintain financial sovereignty.

14 Charged in Taiwan's $41M BitShine Crypto Fraud Case

Taiwanese prosecutors have indicted 14 individuals tied to a NT$1.27 billion ($41 million) cryptocurrency fraud scheme involving the BitShine exchange name. The group allegedly operated through unlicensed entity Biying Technology while leveraging BitShine's regulatory-approved reputation.

Victims were coerced into purchasing Tether (USDT) through a network of physical stores, with funds subsequently laundered overseas. The Shilin District Prosecutor's Office has recommended a 25-year sentence for the alleged ringleader, surnamed Shi.

The case highlights ongoing regulatory challenges in Taiwan's crypto sector, where bad actors exploit the credibility of compliant exchanges to mask illicit operations. Over 1,500 investors fell victim to the scheme between 2021-2023.

South Korean National Arrested in Thailand for $50M Crypto-to-Gold Laundering Scheme

Thai authorities have apprehended a 33-year-old South Korean man, identified only as Han, at Suvarnabhumi Airport in connection with a sophisticated $50 million cryptocurrency laundering operation. The suspect allegedly converted 47.3 million USDT into physical Gold bars between January and March 2024, facilitating the movement of illicit funds outside traditional financial systems.

The arrest follows a February 2025 warrant issued by the Thai Criminal Court, charging Han with multiple offenses including fraud, computer crimes, and participation in a criminal syndicate. Investigators claim the operation promised investors unrealistic returns of 30-50% before blocking withdrawals, a hallmark of Ponzi-style schemes.

Gold transactions exceeding 10 kilograms per purchase were reportedly used to obscure the trail of digital assets. The case highlights growing regulatory concerns about the intersection of cryptocurrency and precious metals in money laundering operations across Southeast Asia.

Dogecoin Price Prediction: Layer Brett Emerges as Strong Contender in Memecoin Race

The cryptocurrency market is witnessing renewed excitement as investors evaluate whether Dogecoin (DOGE), Cardano (ADA), or the emerging Layer Brett (LBRETT) will be the first to breach the $1 threshold. Layer Brett's presale has already surpassed $1 million, drawing attention to its Ethereum Layer 2 infrastructure, which promises faster transactions and lower fees compared to Dogecoin's legacy blockchain and Cardano's proof-of-stake model.

Layer BRETT distinguishes itself with a presale price of $0.0047 per token and an aggressive staking APY of up to 55,000% for early participants. The project's 10 billion token supply and acceptance of ETH, USDT, and BNB payments position it as a memecoin with tangible utility, challenging Dogecoin's dominance and Cardano's smart contract focus.

While Dogecoin remains a market favorite, its scalability limitations contrast sharply with Layer Brett's technical advantages. The question now is whether established players can adapt quickly enough to compete with this new wave of high-efficiency meme tokens.