South Korean digital asset infrastructure company Wavebridge and BC Card, a credit card payment service subsidiary of KT, completed a proof of concept for stablecoin payments. According to Foresight News, foreign visitors in the test environment were able to use dollar stablecoins in a Base network wallet to pay at BC Card QR merchant locations in South Korea.

Merchants still settled in won under the existing process, and the two sides also verified an on-chain asset return mechanism for canceled payments. Wavebridge said it will move forward with commercialization as a virtual asset service provider whose filing has been accepted by the Korea Financial Intelligence Unit.