Japanese tourists traveling to South Korea could eventually conduct transactions utilizing yen-denominated stablecoins connected to payment cards, based on upcoming tests managed by South Korean credit card provider Shinhan Card alongside subsidiaries belonging to Tokyo financial giant SBI Holdings.
Shinhan Card, operating as a division of Shinhan Financial, is partnering with digital asset exchange SBI VC Trade as well as trade finance blockchain firm SBI XDC Network APAC to investigate yen-anchored stablecoin transactions across both nations, as reported by SBI Holdings.
The organizations will additionally examine peer-to-peer wallet transactions alongside the application of stablecoins for settling international trade fees. Their efforts will encompass mechanisms designed to spot illicit activity and comply with anti-money laundering standards.
This initiative is currently in its preliminary phases. The businesses have not disclosed which specific stablecoin they intend to evaluate nor established a schedule for testing periods, let alone a commercial release.
SBI already distributes JPYSC, a yen-pegged stablecoin created by SBI Shinsei Trust Bank and launched alongside Startale Group during June. That digital asset reached roughly 20.1 billion yen, equating to $127 million, in active supply as of September 7, according to SBI VC Trade.
JPYSC remains restricted strictly to SBI VC Trade profiles and cannot presently be transferred toward external wallets. Its availability across open public blockchains additionally relies upon upcoming regulatory approval alongside tax and legal certainty. The corporate partners have not specified whether JPYSC will be utilized during the testing initiative.
Shinhan Card, boasting roughly 20 million active cardholders, explained that the undertaking will tie into Shinhan Financial’s wider digital-asset strategy, featuring an August partnership with Visa focused on developing stablecoin infrastructure, transfers, and card-based settlements.
Originally published at https://www.coindesk.com/business/2026/10/21/japanese-visitors-may-be-able-to-pay-with-yen-stablecoins-in-south-korea-under-shinhan-sbi-pact.
