Shinhan Card, SBI-Affiliated Crypto Firms Plan Yen Stablecoin Tests for In-Store Payments

Shinhan Card , the credit card arm of South Korea’s Shinhan Financial Group , signed a memorandum of understanding with two Japanese crypto firms affiliated with SBI Holdings to study whether yen-denominated stablecoins can be used for payments at physical stores, according to a Japanese-language release SBI VC Trade published on Oct. 21. The SBI signatories are SBI VC Trade , the group’s licensed crypto exchange, and SBI XDC Network APAC , a joint venture SBI formed with TradeFinex Tech in December 2023 to promote the XDC Network blockchain across the Asia-Pacific region. The release described the deal as groundwork for a blockchain-based global payments ecosystem that ties digital assets to traditional financial and payment rails. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter .

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