Solana & Shinhan Card Test Stablecoin Payments in South Korea
Shinhan Card partnered with Solana Foundation to develop and test stablecoin-based payment systems using blockchain infrastructure, simulating real-world merchant-customer scenarios on testnet.
PoC Details
* Trial: Advanced proof-of-concept on Solana testnet to simulate everyday retail stablecoin transactions
* Focus: System performance, scalability, and practical applicability of blockchain for payments
* Quote: “Building on Solana, we plan to closely examine the practical applicability of blockchain technology and proactively explore next-generation financial models,” said Kim Young-il, EVP of Shinhan Card
Tech & Security
^ Wallets: Testing security and stability of non-custodial wallets as requirement for scaling
^ Hybrid Finance: Exploring structures combining TradFi with DeFi protocols
^ Oracle Integration: Building DeFi service environment using oracle tech to connect real-world data with smart contracts, with monitoring and governance
Regulatory & Regional Context
* Compliance: Pilot results will be evaluated alongside South Korea’s Digital Asset Basic Act, expected this year
* Industry Moves: KBank + Ripple testing blockchain cross-border remittances. Govt expanding blockchain trials in public finance
* Gov Sandbox: Ministry of Economy and Finance rolling out tokenized deposits for gov spending in Sejong City Q4 2026. Nine banks including Shinhan participating
* Benefits: Predefined spending conditions, improved oversight, reduced misuse, faster settlement while keeping deposits in banking system
#Solana #ShinhanCard #SouthKorea #Stablecoin #Payments
$SOL
