South Korea's credit card industry joint stablecoin pilot will end by late July, card companies shift to differentiated competition

Odaily reports that the joint technical verification (PoC) centered on the Korean won stablecoin by South Korea's credit card industry will conclude by the end of July, with no plans to establish new working groups thereafter. This pilot primarily verified the payment capabilities of the Korean won stablecoin in scenarios such as QR codes and POS terminals, as well as the feasibility of converting regional currencies, vouchers, and credit card points into stablecoins. Looking ahead, each card company will independently advance related businesses based on their own strategies in the payment sector:

1. Shinhan Card and KB Kookmin Card have both connected to the Solana network;

2. BC Card has completed payment tests for stablecoins held by foreigners at South Korean merchants;

3. Woori Card plans to integrate stablecoin payment functionality into its WON Card application;

4. Samsung Card has chosen a capital cooperation path, joining forces with Samsung Securities and Samsung SDS to invest 612.8 billion Korean won to acquire a 4% stake in Upbit's parent company, Dunamu, and explore introducing digital asset payment features into the "Monimo" financial platform. (NATE)