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Shinhan Card to Test Stablecoin Payments on Solana in South Korea

According to Shinhan Card, the company signed an MOU with the Solana Foundation and will run a more advanced proof-of-concept on Solana testnet this year after an earlier pilot last year.

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Fact Check
The claim is strongly supported by multiple independent, high-authority sources all published on April 30, 2026. The official @solana X account (from the entity's verified official_x_accounts) posted two announcements confirming the Shinhan Card partnership and MOU. The Korea Herald (linked directly from the official @solana post) provides detailed reporting on the MOU and advanced proof-of-concept. The Block and crypto.news independently corroborate the proof-of-concept on Solana's testnet for real-world stablecoin payments. All sources are consistent with the claim's core assertion: Shinhan Card has begun an advanced proof-of-concept with the Solana Foundation to simulate real-world stablecoin payments on blockchain infrastructure. No conflicting evidence was found.
Summary

Shinhan Card signed a memorandum of understanding with the Solana Foundation to jointly develop stablecoin payment technology and expand a next-generation payments ecosystem. The South Korean credit card company said on April 30 that it will conduct a more advanced proof-of-concept on Solana testnet this year, following a preliminary proof-of-concept completed last year. The update adds formal confirmation of the partnership structure and shows the initiative progressing from an earlier pilot to a more advanced testing phase for blockchain-based stablecoin payments.

Terms & Concepts
  • Stablecoin: A cryptocurrency designed to maintain a stable value, usually by being pegged to a fiat currency or other reference asset.
  • Solana: A public blockchain network designed for fast, low-cost transactions and commonly used for payments and decentralized applications.
  • Solana testnet: A testing environment for the Solana blockchain where developers can trial applications and transactions before deploying them on the main network.