Shinhan Eyes Yen Stablecoins

SeoulJapanese visitors may someday pay in Korea with yen stablecoins.

Shinhan Financial, whose card unit serves about 20 million, signed a stablecoin agreement with Visa in August.

Shinhan Card and Japan’s SBI units will study wallet-to-wallet transfers and stablecoin settlement of cross-border trade payments.

The firms have set no timeline for trials, let alone a commercial launch.

The firms have not said whether SBI’s yen stablecoin, confined to SBI VC Trade accounts, will join the test.

Sources: CoinDesk