Shinhan Card, SBI Firms Study Yen Stablecoin Payments for Japanese Visitors to South Korea

Shinhan Card and two SBI Group companies plan a proof of concept to assess yen stablecoin payments for Japanese visitors in South Korea, with wallet transfers and trade settlement also under review. The companies signed an agreement during an Oct. 20 ceremony at SBI Group headquarters in Tokyo and announced it the following day. The partners are Shinhan Card, SBI VC Trade and SBI XDC Network APAC, a joint venture of SBI Holdings and TradeFinex Tech. The card-linked work will examine whether visitors can pay with convenience comparable to conventional card transactions.