Shinhan Card and SBI Collaborate to Pilot Yen Stablecoin Payments for Travelers and Trade

As part of the agreement signed this past Tuesday, the companies plan to conduct trials involving stablecoin-based card payments, direct wallet-to-wallet transfers, and cross-border trade transactions. They will also evaluate anti-money laundering protocols and fraud detection methods during the testing phase.

Shinhan Card ranks among South Korea’s leading credit card service providers. Conversely, Japan’s SBI is a substantial financial conglomerate overseeing banks, brokerage firms, insurance companies, and cryptocurrency exchanges.

This initiative aims to facilitate smoother cross-border payment and settlement processes between key East Asian countries, while enhancing payment convenience specifically for tourists.

Official tourism data from both nations indicates that more than 10 million trips were made between South Korea and Japan from January through August 2026. Notably, South Korea emerged as Japan’s primary source of international visitors with 7.42 million tourists, while Japan ranked second for South Korea with 2.7 million visitors.

Earlier in April, Shinhan Card completed a proof-of-concept that included experiments with stablecoin payments and international transaction settlements.

SBI VC Trade was officially registered in March 2025 as the first service provider in Japan authorized to exchange electronic payment instruments, including the ability to operate with USDC stablecoins.

The collaboration reflects a significant leap forward in employing stablecoins for practical, everyday transactions across borders, enhancing financial integration and travel convenience in East Asia.