Japanese visitors could soon pay with yen stablecoins in South Korea under Shinhan-SBI pact
Summary
Shinhan Card and SBI Holdings subsidiaries are exploring yen-stablecoin payments for Japanese visitors in South Korea, alongside wallet transfers and cross-border trade settlement. The firms will also study anti-money-laundering controls. No token, trial date or commercial launch has been announced, and it is unclear whether SBI’s existing JPYSC stablecoin will be used. JPYSC had about 20.1 billion yen in circulation as of Sept. 7, but is currently restricted to SBI VC Trade accounts and faces regulatory and legal hurdles for broader use.
