Japanese visitors may be able to pay with yen stablecoins in South Korea under Shinhan-SBI pact
South Korea's Shinhan Card and Japan's SBI Holdings are collaborating to test yen-backed stablecoin payments for cross-border transactions and trade settlement between the two countries. The initiative aims to enable Japanese visitors to use yen stablecoins linked to payment cards in South Korea and explore peer-to-peer wallet transfers, though it's currently in an early stage without a commercial timeline.
Why it matters
This partnership represents a significant step towards practical, real-world adoption of stablecoins for international payments and trade, potentially streamlining transactions and reducing costs for consumers and businesses across borders.
Isinalin ng AI 2 min pagbasa Make preferred on Ibahagi Ibahagi ang artikulong ito Kopyahin ang link X icon X (Twitter) LinkedIn Facebook Email Make preferred on While at an early stage without a set commercial timeline, the initiative builds on Shinhan's broader digital asset push with Visa. (Thriday/Unsplash) Buod Ipakita South Korea’s Shinhan and Japan's SBI are testing yen-backed stablecoin payments for cross-border transactions and trade settlement. The collaboration will explore card-linked merchant payments for Japanese visitors in South Korea and peer-to-peer wallet transfers. While at an early stage without a set commercial timeline, the initiative builds on Shinhan's broader digital asset push with Visa. 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.
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