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5 clusters · 15 sources · 34 days · First seen about 1 month ago · Last updated 3 days ago

SBI Group stablecoin and digital asset expansion

Overview

SBI Group has engaged in multiple initiatives to expand the utility and reach of stablecoin-based transactions. Initially, SBI Group and Kyobo Life Insurance completed a proof-of-concept pilot for cross-border transactions between Japan and South Korea. Using the Canton Network blockchain, the pilot facilitated direct exchanges between yen-denominated and Korean won-denominated stablecoins, aiming to reduce costs and exchange rate risks by bypassing the US dollar.

Following this, SBI Group expanded its involvement in digital asset infrastructure through a strategic investment in Singapore-based DTCPay. Building on regional efforts, SBI DigiTrust entered a basic agreement with South Korean provider NICE Information & Telecommunication and blockchain firm DSRV to conduct joint verification of stablecoin-based remittances and payments. Additionally, SBI Holdings and KB Kookmin Card signed a memorandum of understanding to collaborate on cross-border financial services through the ‘KYA Trust Gateway’.

Expanding these efforts, Shinhan Card has entered an agreement with SBI VC Trade and SBI XDC Network APAC to conduct trials for yen-denominated stablecoin payments. This initiative aims to facilitate smoother transactions for travelers between South Korea and Japan, as well as to explore blockchain-based settlement for international trade. The proof-of-concept testing will evaluate functionalities such as card-linked payments, wallet-to-wallet transfers, and security measures, including anti-money-laundering procedures and fraud detection controls. While the companies are exploring participation in the XDC Network node ecosystem, no official commercial launch date has been established.

Entities

SBI Group · Japan · SBI Holdings · Vertex Ventures Southeast Asia & India · SBI VC Trade

Claims

What the coverage asserts, and how many sources carry each claim.

[○ 1 SOURCE] Shinhan Card and SBI Group are testing the integration of Japanese yen stablecoins with credit card systems. blockcast.it
[○ 1 SOURCE] The Shinhan-SBI partnership aims to facilitate cross-border trade settlements and remittances. blockcast.it
[○ 1 SOURCE] JR East launched the ‘teppay’ code payment service within the mobile Suica app. biz-journal.jp
[○ 1 SOURCE] teppay utilizes the JCB ‘Smart Code’ to access over 1.7 million merchants. biz-journal.jp
[○ 1 SOURCE] teppay allows payments up to 300,000 yen following identity verification. biz-journal.jp
[○ 1 SOURCE] DNP is supporting the issuance of the ‘Travel Pay Card’ featuring a South Korean transit IC chip. www.dreamnews.jp
[○ 1 SOURCE] The Travel Pay Card is a Japanese-issued prepaid card with balance-linked functionality. www.dreamnews.jp
[○ 1 SOURCE] The Travel Pay Card allows users to use one card for both retail and public transit in South Korea. www.dreamnews.jp

Timeline

3 days ago

[BUSINESS] 5 sources
Shinhan Card and SBI to test yen stablecoin payments
Shinhan Card and Japan’s SBI Group will test yen stablecoin payments and blockchain trade settlements to improve cross-border transactions between South Korea and Japan.
11 days ago

[BUSINESS] 2 sources
SBI Holdings and KB Kookmin Card partner on AI and stablecoin payments
SBI Holdings and KB Kookmin Card are partnering to test AI-driven identity verification and stablecoin-based cross-border payments for travelers between Japan and South Korea.
22 days ago

[BUSINESS] 2 sources
SBI DigiTrust to verify stablecoin QR payments for Japanese travelers in South Korea
SBI DigiTrust, NICE Information & Telecommunication, and DSRV are collaborating to verify stablecoin-based QR code payments for Japanese tourists in South Korea, with a target completion date of late 2026.
about 1 month ago

[BUSINESS] 7 sources
SBI Group invests in DTCPay to expand stablecoin payments
Japan’s SBI Group has invested in Singapore-based DTCPay as part of a $25 million Series A round to expand stablecoin payment infrastructure and merchant networks across Asia.
about 1 month ago

[BUSINESS] 2 sources
SBI Group and Kyobo Life pilot direct Japan-Korea stablecoin transfers
SBI Group and Kyobo Life Insurance completed a pilot for direct JPY-KRW stablecoin transfers, bypassing the US dollar to reduce costs and time in Japan-South Korea cross-border payments.

Sources

bitcoinke.io · bittimes.net · coindeskjapan.com · coingape.com · cointelegraph.com · crypto.news · cryptobreaking.com · cryptobriefing.com · merca2.es · news.bitcoin.com · newsbtc.com · spacemoney.com.br · techxeber.az · tokenpost.kr · travelandtourworld.com

This summary has been updated 4 times: see revision history