KB Kookmin Card in South Korea Taps Avalanche for Hybrid Stablecoin Credit Card
KB Kookmin Card is developing an Avalanche-based payment model with OpenAsset that uses blockchain wallet balances first and falls back to traditional credit, linking stablecoin payments with existing card infrastructure.
KB Kookmin Card in South Korea is partnering with Avalanche and OpenAsset to build a hybrid stablecoin credit card system that spends from a blockchain wallet first and automatically uses traditional credit for any remaining balance. The project expands on the company’s March 31 announcement of an Avalanche-based payment model that links digital wallets to existing credit cards and is being developed as South Korea moves forward with won-backed stablecoin regulation. The available information still does not specify launch timing beyond the announcement date, supported stablecoins, reserve structure, user rollout plans, transaction targets, or detailed technical implementation.
- Avalanche: A blockchain network designed for high-throughput transactions and decentralized applications, which KB Kookmin Card is using for its payment system.
- Stablecoin: A digital asset intended to maintain a stable value, often by being linked to a fiat currency or reserve asset.
- Hybrid stablecoin credit card system: A payment model that spends from a blockchain wallet first and then uses a conventional credit line if the wallet balance is insufficient.