The joint technical verification covered QR and POS payments, balance conversion into won-linked stablecoins, and included links to Solana by Shinhan Card and KB Kookmin Card.
South Korea's credit card industry is set to wrap up a joint technical verification of KRW stablecoins by the end of July, ending a collaborative test focused on how won-linked tokens could work in everyday payments. The proof-of-concept covered QR code and POS terminal payments, while also examining whether local currencies, vouchers and card points could be converted into stablecoins. Shinhan Card and KB Kookmin Card connected to Solana during the test. No new working group is planned after the project ends, signaling that card companies may move from joint development toward individual strategies in stablecoin-related services. Separately, Samsung Card participated in a KRW 612.8 billion deal for a 4% stake in Dunamu.