Shinhan, SBI make Japan-Korea tourist spending a test case for yen stablecoins

What happened: Shinhan Card signed an agreement with Japan's SBI VC Trade and SBI XDC Network APAC to test yen stablecoin payments for travelers and cross-border trade settlement between South Korea and Japan. Key numbers: Travel between the two countries generated more than 10 million visitor Why it matters: The companies will assess safeguards for travelers and whether stablecoins can speed up trade settlement between South Korea and Japan. The initiative is intended to support cross-border payments and settlement between the two nations and improve payment convenience for travelers.

Shinhan Card signed an agreement with Japan's SBI VC Trade and SBI XDC Network APAC to test yen stablecoin payments for travelers and cross-border trade settlement between South Korea and Japan.

The companies will assess safeguards for travelers and whether stablecoins can speed up trade settlement between South Korea and Japan. The initiative is intended to support cross-border payments and settlement between the two nations and improve payment convenience for travelers.