Shinhan Bank, KSNET and Crypto.com complete stablecoin payment pilot for foreign tourists
- —Tourists paid with dollar stablecoins; merchants received won via KSNET's QR payment and settlement rails
- —Shinhan Bank tested linking its banking infrastructure for won settlement to merchants
- —Pilot was limited to select clinics and K-beauty and medical tourism merchants ahead of commercialization
Why it matters: A major Korean bank testing stablecoins in live merchant payments signals growing integration of crypto into mainstream payment rails.
Source: Bloomingbit