Japan’s SBI Group and South Korea’s Shinhan Card will collaborate to examine blockchain-based payments for travellers and business between countries. The companies will explore using yen stablecoins, digital wallets and cross-border payments. On October 21, 2026, they reached an agreement to conduct a joint experiment in stablecoin-based payments.
SBI XDC Network APAC and SBI VC Trade have signed an MOU with Shinhan Card.
We will explore stablecoin-based cross-border payments and the integration of JPY-denominated stablecoin with in-store payment services.
Read more: https://t.co/hpAMrrx1nn https://t.co/DsXhGbzCU3
— SBI XDC Network APAC 株式会社 (@sbixdc) October 21, 2026
The companies aim to test fraud detection and anti-money laundering processes, as well. The experiment promises to make payments easier between the two countries, particularly for tourists. However, the companies will first have to conduct experiments to test whether their proposed solutions are technically viable and commercially viable.
SBI and Shinhan Card will cooperate under the agreement with SBI XDC Network APAC, SBI VC Trade and Shinhan Card, exploring how to link digital assets to existing financial and payment systems. The company will look into how stablecoins, including yen, can be applied to make in-store purchases and cross-border payments easier.
A stablecoin is a type of digital token that is designed to maintain a stable value by being tethered to another asset or currency. In this case, the yen-based stablecoin could make cross-border payments easier without relying on traditional systems. Both companies will test their system, looking at the consumer experience, transaction processes and technical elements.
LATEST: 🇯🇵 South Korea’s Shinhan Card is partnering with SBI VC Trade and SBI XDC Network APAC to pilot yen stablecoin payments for travelers and cross-border trade between South Korea and Japan. https://t.co/bbLgsf8wqE
— CoinMarketCap (@CoinMarketCap) October 22, 2026
Tourism offers a crucial application for the proposed experiment. More than 10 million visitor arrivals were reported between Japan and South Korea in the first eight months of 2026, according to data cited by the report. South Korea was Japan’s largest source of foreign visitors, with 7.42 million arrivals, while Japan was the second-largest for South Korea, with 2.7 million.
The companies will also test the possibilities for payments for cross-border trade. They will try to gain an understanding of how the blockchain infrastructure can operate alongside existing international settlement systems.
South Korea is already experimenting with other forms of blockchain-based payments. A government-authorized pilot program initiated in September allows government officials to make certain expenditures through blockchain-based deposit tokens by scanning QR codes on smartphones, instead of using physical government cards.
The latest partnership is another sign of growing enthusiasm for blockchain technology in payment applications. However, the proposed solutions will have to go through the experiment process before being ready for wider application.
Stay informed with the latest trends in Web3, blockchain innovation, and cybersecurity updates at 3verseTV
You need to login in order to Like
Leave a comment