Shinhan Card signs agreement with SBI to test Japanese yen stablecoin payments and cross-border settlements

Shinhan Card has signed agreements with SBI VC Trade and SBI XDC Network APAC to test Japanese yen stablecoin payments and cross-border settlements between Japan and South Korea. The testing scope covers stablecoin card payments, inter wallet payments, cross-border settlements, and anti money laundering and fraud detection mechanisms. Shinhan Card completed the concept verification of stablecoin payment and cross-border settlement in April this year. SBI VC Trade was registered as Japan's first electronic payment tool trading service provider in March 2025, capable of processing USDC.