Korea's credit card industry's joint test of stablecoins is scheduled to end in late July, with card companies shifting to differentiated competition

According to Odaily, the joint Proof of Concept (PoC) conducted by the South Korean credit card industry around a Korean won stablecoin is scheduled to end in late July. No new working groups are planned to be established thereafter. This test 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 local currencies, vouchers, and credit card points into stablecoins. In the payment sector, individual card companies will now independently advance related businesses based on their own strategies:

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

2. BC Card has completed payment testing for foreign-held stablecoins 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 Samsung Securities and Samsung SDS to invest 612.8 billion Korean won to acquire a 4% stake in Upbit's parent company, Dunamu, exploring the introduction of digital asset payment functionality on its financial platform "Monimo." (NATE)