Japanese visitors may be able to pay with yen stablecoins in South Korea under Shinhan-SBI pact

Japanese visitors to South Korea might one day be able to transact using yen stablecoins linked to payment cards following experiments conducted by South Korean card issuer Shinhan Card and subsidiaries of the Tokyo-based financial services company SBI Holdings. Shinhan Card, a unit of Shinhan Financial, is working with cryptocurrency exchange SBI VC Trade and trade finance blockchain company SBI XDC Network APAC to explore yen-backed stablecoin payments between the two countries , SBI Holdings said. The companies will also study wallet-to-wallet transfers and the use of stablecoins to settle cross-border trade payments.