South Korea
Block Media
Shinhan Bank Trials Stablecoin Payments and Korean Won Settlement for Foreign Patients' Medical Bills
- Shinhan Bank, together with domestic payment processor KSNET, ran a limited pilot at a Seoul medical institution using an overseas stablecoin simple-payment service.
- Payment flow: a foreign patient pays medical fees in stablecoin, an overseas regulated operator converts it to fiat and remits funds to Korea, and KSNET pays the medical institution in Korean won.
- The pilot verified the technical process for domestic receipt and won settlement of stablecoin-based payment proceeds.