Shinhan Card and SBI to test yen stablecoin card payments

Shinhan Card signed an agreement with SBI VC Trade and SBI XDC Network APAC to run a proof of concept for card payments using a yen-pegged stablecoin. The pilot will test tourist payments in Japan, AML and fraud detection, plus blockchain-based B2B trade settlement.

• Pilot covers card payments for tourists in Japan via yen stablecoin
• AML, fraud detection and payment security will be tested
• Separate PoC targets B2B trade settlement on blockchain
• Shinhan Financial signed a digital payments deal with Visa in August