Shinhan Card said it has signed an agreement with Japan’s SBI VC Trade and SBI XDC Network APAC to test yen stablecoin payments for travelers and cross-border trade settlement between South Korea and Japan. The companies plan to examine card-based stablecoin payments, wallet-to-wallet transfers and trade settlement flows, while also reviewing anti-money-laundering and fraud-detection controls. The project is aimed at improving payment convenience for travelers and supporting cross-border settlement between the two countries. Official tourism data from both governments showed that travel between South Korea and Japan produced more than 10 million visitor arrivals in the first eight months of 2026. Shinhan Card had already completed a proof-of-concept in April covering stablecoin payments and cross-border settlement, while SBI VC Trade became Japan’s first registered electronic payment instruments exchange service provider in March 2025, allowing it to handle USDC.
Shinhan Card said Wednesday that it signed an agreement with Japan’s SBI VC Trade and SBI XDC Network APAC to test yen stablecoin payments for travelers and cross-border trade settlement between South Korea and Japan.
Under the agreement signed Tuesday, 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.
Shinhan Card is one of South Korea’s biggest credit card companies. SBI is a major Japanese financial group with operations spanning banks, brokerages, insurers and crypto exchanges.
Focus on travel spending and cross-border settlement
The initiative is designed to support cross-border payments and settlement between the two countries and improve payment convenience for travelers.
Official tourism figures from South Korea and Japan showed that travel between the two countries generated more than 10 million visitor arrivals in the first eight months of 2026. South Korea was Japan’s largest source of foreign visitors, with 7.42 million arrivals. Japan was South Korea’s second-largest source, with 2.7 million arrivals.
Earlier stablecoin work by both sides
Shinhan Card said in April that it had completed a proof-of-concept covering stablecoin payments and cross-border settlement.
SBI VC Trade registered in March 2025 as Japan’s first electronic payment instruments exchange service provider, enabling it to handle USDC.
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