South Korea2026.10.19Digital Asset

KSNET and Shinhan Bank Join Pilot for Foreign Tourists' Stablecoin Payments

• KSNET, Shinhan Bank, and Crypto.com completed a joint PoC for the 'Crypto.com Pay' stablecoin payment service, announced on October 19.
• The pilot structure has foreign tourists pay using dollar-backed stablecoins while domestic merchants receive settlement in Korean won.
• The test examined the feasibility of linking financial infrastructure to receive stablecoin payments domestically and settle them to merchants in won.