Shinhan and SBI to Test Yen Stablecoin Payments for Korea-Japan Travelers
Shinhan Card signs yen stablecoin test deal with SBI units
South Korea's Shinhan Card said Wednesday it signed an agreement with Japan's SBI VC Trade and SBI XDC Network APAC to test yen stablecoin payments for travelers and for cross-border trade settlement.
A stablecoin is a digital token designed to hold a steady value, in this case tied to the Japanese yen. The companies plan to test stablecoin card payments, wallet-to-wallet payments and cross-border trade settlement. A wallet is a tool for holding and sending digital assets.
According to the announcement, the groups will also look at safeguards against money laundering and fraud.
What the companies plan to test
- Stablecoin payments made with a card
- Payments sent directly between wallets
- Cross-border trade settlement between the two countries
- Anti-money-laundering and fraud-detection controls
Who is involved
Shinhan Card is one of South Korea's largest credit card companies. SBI is a Japanese financial group that operates banks, brokerages, insurers and crypto exchanges.
The initiative is meant to support cross-border payments and settlement between South Korea and Japan, and to make payments more convenient for travelers, the companies said.
Travel numbers behind the test
Travel between the two countries produced more than 10 million visitor arrivals in the first eight months of 2026, based on official tourism figures from both countries. South Korea was Japan's largest source of foreign visitors, with 7.42 million arrivals. Japan was South Korea's second-largest source, with 2.7 million arrivals.
Earlier steps by both companies
Shinhan Card announced in April that it had finished a proof-of-concept, an early test of whether an idea works in practice, covering stablecoin payments and cross-border settlement.
SBI VC Trade registered in March 2025 as Japan's first electronic payment instruments exchange service provider, a status that lets it handle USDC, a stablecoin tied to the US dollar.
What is confirmed
Confirmed: Shinhan Card announced the agreement on Wednesday, and it was signed Tuesday. The deal names SBI VC Trade and SBI XDC Network APAC as partners. The tests will cover the areas listed above. The tourism figures come from official sources in both countries.
What is still unclear
The sources do not say when the tests will start or finish, how many users or transactions they will involve, or what results are expected. No specific safeguards or their details were published. The announcement also does not state whether any commercial service will follow the tests.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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