BTC $83,547 
ETH $2,468 
USDT $0.9990 
BNB $745.74 
XRP $1.36 
USDC $0.9994 
SOL $106.96 
TRX $0.3316 
FIGR_HELOC $1.03 
ZEC $1,293 Shinhan and SBI test yen stablecoin payments for Japan-Korea travelers
Shinhan Card and two SBI units will run proof-of-concept trials on yen stablecoin card payments, wallet transfers and trade settlement, with no launch date set.
Key takeaways
- Trials, not a launch. The partners call the work proof-of-concept, and no commercial rollout date has been announced.
- Travel flows are large. The two countries recorded more than 10.1 million visitor arrivals in the first eight months of 2026.
- Reach is broad. Shinhan Card serves approximately 20 million card members, according to SBI, though the deal does not say they will join the trials.
What happened
Shinhan Card signed an agreement with SBI VC Trade and SBI XDC Network APAC on October 20 to test yen stablecoin payments. The signing took place in Tokyo, and Shinhan Card announced the deal the following day.
Under the pact, the companies will test stablecoin card payments, wallet-to-wallet payments and cross-border trade settlement. They will also assess anti-money-laundering and fraud-detection controls.
The October 20 signing ceremony brought together Shinhan Card President Park Chang-hoon, SBI VC Trade President Tomohiko Kondo and SBI XDC Network APAC Chief Operating Officer Tadashi Yoshida. Kondo heads both Japanese companies.
Why it matters
Travel between the two countries generated more than 10 million visitor arrivals in the first eight months of 2026, according to official tourism figures from both countries. South Korea was Japan's largest source of foreign visitors with 7.42 million arrivals, while Japan was its neighbor's second-largest source with 2.7 million arrivals.
Shinhan Card serves approximately 20 million card members, according to SBI, which the report says makes the arrangement a test with an established payments provider rather than a new crypto wallet. The agreement does not say those cardholders will be included in the trials or describe how participants would be recruited.
Both partners bring prior experience. Shinhan Card announced in April that it had completed a proof-of-concept covering stablecoin payments and cross-border settlement, and SBI VC Trade registered in March 2025 as Japan's first electronic payment instruments exchange service provider, enabling it to handle USDC.
What is still unclear
- The announcement does not identify a specific yen stablecoin for the card pilot, and it leaves the underlying token, participating merchants, trial dates and prospective transaction limits unspecified.
- The work remains at the proof-of-concept stage, and no commercial rollout date was announced.
- Shinhan said the partners would evaluate faster and more efficient settlement methods, but the announcement contains no measured processing times, fee comparisons or completed transactions from the proposed trial.
Questions readers ask
What did Shinhan Card and SBI agree to test?
They will test yen stablecoin card payments, wallet-to-wallet transfers and cross-border trade settlement. They will also assess anti-money-laundering and fraud-detection controls.
When was the agreement signed?
Shinhan Card signed the agreement with SBI VC Trade and SBI XDC Network APAC on October 20, in Tokyo. The company announced it the next day.
Is a yen stablecoin card available to travelers yet?
No. The work remains at the proof-of-concept stage, and no commercial launch date has been announced. The announcement also does not name a specific yen stablecoin for the pilot.
How large is travel between Japan and South Korea?
More than 10.1 million visitor arrivals were recorded between the two countries in the first eight months of 2026. South Korea sent 7.42 million arrivals to Japan, and Japan sent 2.7 million to South Korea.
