According to CoinPost, SBI VC Trade, a cryptocurrency exchange under the SBI Group, and SBI XDC Network APAC, a joint venture of SBI Holdings, signed a memorandum of understanding with Shinhan Card, one of South Korea’s largest credit card companies, on October 21 to jointly build a blockchain-based global payment ecosystem.
The three parties will explore the integration of yen-stablecoins and other digital assets with offline retail payment services, and evaluate the commercial viability of new digital payment services and business models through pilot experiments. SBI XDC Network APAC and Shinhan Card will collaborate to advance the infrastructure and ecosystem development of the XDC Network for trade finance and enterprise use cases.
SBI VC Trade and Shinhan Card to Explore JPY Stablecoin for Offline Payments
TechFlowShare
Summary
SBI VC Trade and Shinhan Card have signed a basic cooperation agreement to explore the integration of JPY stablecoins for offline retail payments. The partnership, which includes SBI XDC Network APAC, aims to build a blockchain-based global payment ecosystem and test new digital payment services. The network upgrade will support pilot experiments to assess commercial potential and drive ecosystem growth.
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