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Shinhan Card and SBI explore yen‑stablecoin payments for Japanese visitors in South Korea
South Korean card issuer Shinhan Card, a unit of Shinhan Financial, is partnering with SBI Holdings subsidiaries SBI VC Trade and SBI XDC Network APAC to test yen‑stablecoin payments linked to payment cards for Japanese tourists in South Korea. The collaboration will also examine peer‑to‑peer wallet transfers and using stablecoins for cross‑border trade settlements, with systems to detect suspicious activity and meet AML rules. The project is in an early stage, with no stablecoin named or timeline set. SBI already issues the JPYSC stablecoin, which had about 20.1 billion yen ($127 million) in circulation as of Sept. 7 and is limited to SBI VC Trade accounts.