Korean credit card industry's stablecoin joint test to end by late July, card companies shift to differentiated competition

Odaily Planet Daily News The joint technical verification (PoC) of the Korean credit card industry surrounding the Korean won stablecoin will end by late July, with no plans to establish a new working group subsequently. This test focused on verifying 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. In the payment field, each card company will independently advance related businesses based on their own strategies in the future:

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

2. BC Card has completed payment tests for foreigners holding stablecoins at 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 in acquiring a 4% stake in Dunamu, Upbit's parent company, exploring the introduction of digital asset payment functions on the financial platform "Monimo." (NATE)