Shinhan, SBI make Japan-Korea tourist spending a test case for yen stablecoins
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• South Korea’s Shinhan Card announced Wednesday that it 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.
• Under the pact signed Tuesday, the companies will test stablecoin card payments, wallet-to-wallet payments and cross-border trade settlement.
• They will also assess anti-money-laundering and fraud-detection controls.
• Shinhan Card is one of South Korea’s biggest credit card companies.
• SBI is a Japanese financial heavyweight that runs banks, brokerages, insurers and crypto exchanges.
#DeFi
Source - Cointelegraph
━━━━━━━━━━━━━━━━━━━━
• South Korea’s Shinhan Card announced Wednesday that it 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.
• Under the pact signed Tuesday, the companies will test stablecoin card payments, wallet-to-wallet payments and cross-border trade settlement.
• They will also assess anti-money-laundering and fraud-detection controls.
• Shinhan Card is one of South Korea’s biggest credit card companies.
• SBI is a Japanese financial heavyweight that runs banks, brokerages, insurers and crypto exchanges.
#DeFi
Source - Cointelegraph