Shinhan Card and SBI Test Yen Stablecoins for Travel

South Korea-based Shinhan Card has signed an agreement with Japan’s SBI VC Trade and SBI XDC Network APAC to test yen stablecoin payments for travelers and facilitate cross-border trade settlement between the two East Asian nations, according to Cointelegraph.

Under the pact, the financial companies will test stablecoin card payments, wallet-to-wallet transactions, and cross-border trade settlement. Additionally, the participants will assess anti-money-laundering and fraud-detection controls associated with the digital assets.

Cross-Border Testing and Tourism

The initiative aims to support cross-border payments and improve payment convenience for tourists traveling between South Korea and Japan. Official tourism figures from both countries showed more than 10 million visitor arrivals in the first eight months of the year, with South Korea serving as Japan's largest source of foreign visitors at 7.42 million arrivals, while Japan was its neighbor's second-largest source with 2.7 million arrivals.

Shinhan Card previously completed a proof-of-concept testing in April that covered stablecoin payments and cross-border settlement. Meanwhile, SBI VC Trade registered in March 2025 as Japan’s first electronic payment instruments exchange service provider, granting it the capability to handle USDC.

Key facts

• Shinhan Card signed an agreement with SBI VC Trade and SBI XDC Network APAC on Tuesday.
• The collaboration will test stablecoin card payments, wallet-to-wallet payments, and cross-border trade settlement.
• Companies will assess anti-money-laundering and fraud-detection controls during the test.
• Travel between South Korea and Japan generated over 10 million visitor arrivals in the first eight months of the year.