South Korea's Financial Services Commission, Financial Intelligence Unit, and central bank are jointly reviewing Hecto Financial's proposed Circle Payments Network global remittance service. The review focuses on compliance with the Specific Financial Transaction Information Act, Foreign Exchange Transactions Act, and whether it constitutes an unregistered Virtual Asset Service Provider (VASP) business. Hecto Financial plans to launch the service in July, utilizing Circle's USDC settlement network to facilitate global remittances for South Korean exporters. The virtual asset licensing aspect will be supported by its licensed affiliate, Hecto Wallet One.