Shinhan Card Signs Agreement with SBI to Test Yen Stablecoin Payments and Cross-Border Settlement

Odaily: South Korean credit card company Shinhan Card has announced that it has signed an agreement with Japanese electronic payment instrument trading service providers SBI VC Trade and SBI XDC Network APAC to test yen stablecoin payments for tourists and cross-border trade settlement between Japan and South Korea. The agreement was signed on Tuesday, and the testing scope includes stablecoin card payments, wallet-to-wallet payments, and cross-border settlement, as well as evaluating anti-money laundering and fraud detection mechanisms.

The initiative aims to support cross-border payments and settlement between South Korea and Japan and improve payment convenience for tourists. In the first eight months of 2026, tourist exchanges between the two countries exceeded 10 million visits, including 7.42 million South Korean visitors to Japan and 2.7 million Japanese visitors to South Korea.

Shinhan Card announced in April this year that it had completed a proof of concept for stablecoin payments and cross-border settlement. SBI VC Trade registered in March 2025 as Japan's first electronic payment instrument trading service provider and can handle USDC. (Cointelegraph)