TL;DR: Shinhan Card and two SBI businesses have agreed to explore yen stablecoin payments and cross-border blockchain settlement, with no commercial launch date yet.
A South Korean card company and two Japanese digital asset businesses are testing whether a stablecoin could work at an ordinary checkout. SBI VC Trade and SBI XDC Network APAC announced a memorandum of understanding with Shinhan Card on October 21, following a signing ceremony in Tokyo.
The agreement covers potential yen-denominated stablecoin payments, wallet-to-wallet transfers, cross-border trade settlement and the use of the XDC Network ecosystem. A proof of concept, rather than a live national payment network, is the immediate next step.
There is a practical reason for the interest. Tourists and merchants are familiar with card terminals, yet international settlements can still require multiple banking intermediaries and currency conversions. A blockchain-backed payment layer might remove some friction without asking every customer to learn a completely different checkout experience.
Technical feasibility is only part of the test. The parties must also work through regulation, commercial participation and how consumers ultimately receive refunds or resolve disputes. The companies have not announced a timetable for a widely available service. The agreement is another signal that established Asian payments groups are investigating stablecoins as infrastructure rather than purely as exchange-traded tokens.
Written by the News Desk and edited by Samuel Rae.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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