South Korea’s Shinhan Card announced an agreement with Japan’s SBI VC Trade and SBI XDC Network APAC to test yen stablecoin payments for travelers and cross-border trade settlement. The companies plan to test card and wallet-to-wallet payments and assess anti-money-laundering and fraud-detection controls; the agreement does not mean those services are in use.
Shinhan Card said in April that it had completed an earlier proof-of-concept test covering stablecoin payments and cross-border settlement.
