Tether and Circle Expand Hiring and Operations in South Korea

BlockBeats News, February 26th, according to Korean media News1, industry sources revealed that stablecoin issuer Tether recently posted job openings targeting Korean employees, including a PR manager, a blockchain investigator, and a government relations officer. Tether had previously entered the Korean market by hiring a Korean market representative last year, but after the representative left the company, Tether decided to significantly expand its staff.

Furthermore, another virtual asset industry insider stated: "Since Circle's CEO visited Korea in August last year, Circle has been actively conducting lending business in Korea." This move appears to be in response to Korea's regulatory requirements for overseas stablecoin issuers. The upcoming "Digital Assets Basic Law" (Phase 2 Virtual Assets Act) is expected to include provisions requiring overseas stablecoin issuers to establish a branch in Korea to distribute their tokens in the domestic market. This means that even stablecoin issuers like Tether and Circle will need to establish a presence in Korea.