Circle has expressed its intention to cooperate with the Korean financial sector on the Korean won stablecoin and proposed to cooperate on the US dollar stablecoin.

Circle has proposed issuing a US dollar stablecoin, rather than a Korean won stablecoin, to the South Korean financial sector. During a meeting with senior executives from the country's four largest financial institutions, Circle President Heath Tarbert stated, "There is no intention to collaborate on a Korean won stablecoin." He then introduced Circle's US dollar stablecoin and proposed a collaboration.