Shinhan Card, SBI-Affiliated Crypto Firms Plan Yen Stablecoin Tests for In-Store Payments
By Unchained
AI summary of the source article
Shinhan Card signed an MOU with SBI VC Trade and SBI XDC Network APAC to test yen-denominated stablecoins for in-store payments. The firms plan proof-of-concept trials examining transaction processing, user experience, and cross-border trade settlements.
Why it matters
The release described the deal as "groundwork for a blockchain-based global payments ecosystem that ties digital assets to traditional financial and payment rails" and noted it is "meant to widen Japan-Korea cooperation in digital finance."
Key facts
- Shinhan Card signed an agreement with SBI VC Trade and SBI XDC Network APAC to study yen stablecoins for payments at physical stores.
- The companies will conduct phased proof-of-concept tests covering user experience, technical setup, and stablecoin-based cross-border payments.
- Shinhan Card and SBI XDC Network APAC also plan to collaborate on infrastructure for the XDC Network blockchain.
Source excerpt · Unchained
The memorandum of understanding between South Korea's Shinhan Card, SBI VC Trade and SBI XDC Network APAC also covers stablecoin settlement of cross-border trade, with specifics still to come. The post Shinhan Card, SBI-Affiliated Crypto Firms Plan Yen Stablecoin Tests for In-Store Payments appeared first on Unchained .