South Korean card giant completes stablecoin payments pilot for foreigners
BC Card, one of South Korea's largest payment processors, has completed a pilot project enabling foreign users to pay local merchants using stablecoins. The initiative, conducted with partners including Wavebridge and Aaron Group, allowed users to convert overseas stablecoins into digital prepaid cards. The pilot is part of BC Card's broader strategy to implement a stablecoin payment system, responding to evolving regulations in South Korea. The country is actively discussing won-based stablecoins, though regulatory progress has been delayed due to disagreements between the Financial Services Commission and the Bank of Korea. Globally, stablecoins are gaining traction as payment alternatives, with companies like YouTube and Visa adopting them for payouts and settlements.
cointelegraph12/23 13:38
