Shinhan Card and SBI to test yen stablecoin payments

Shinhan Card has entered into an agreement with SBI VC Trade and SBI XDC Network APAC to conduct trials for yen-denominated stablecoin payments. The initiative aims to facilitate smoother transactions for travelers moving between South Korea and Japan, as well as to explore blockchain-based settlement for cross-border trade.

The proof-of-concept testing will evaluate several functionalities, including card-linked payments, wallet-to-wallet transfers, and international trade settlements. A key component of the trials involves assessing security measures, specifically anti-money-laundering procedures and fraud detection controls, to ensure safe handling of digital assets.

The collaboration comes amid high tourism volumes between the two nations, which saw over 10 million visitor arrivals in the first eight months of 2026. While the companies are exploring participation in the XDC Network node ecosystem, no official commercial launch date has been established.