Shinhan Card, South Korea’s largest credit card company, has teamed up with the Solana Foundation to test stablecoin payments in real‑world scenarios. The trials run on Solana’s testnet and simulate everyday transactions between customers and merchants to see how stablecoins perform at scale.
The company says this proof‑of‑concept focuses on speed, costs, and reliability when people use stablecoins for normal retail payments. It builds on earlier experiments in which Shinhan Card used blockchain and stablecoins for cross‑border settlement and for hybrid card products.
How Shinhan Card Is Engineering a Blockchain Payment Stack
In its latest pilot, Shinhan Card is testing non‑custodial wallets, where users control their keys, as a foundation for large‑scale blockchain payments. Engineers are also working on DeFi‑based systems that use oracle data to link real‑world payment information to on‑chain smart contracts.
The company recently completed a broader stablecoin proof of concept that validated six projects, including a hybrid debit‑credit card that spends stablecoins, an integrated digital asset payment infrastructure, and cross‑border remittances.
Shinhan Card says it now plans to expand Web3‑based payment models, including won‑based stablecoins, in partnership with global players such as Solana, Visa, Fireblocks, and Mastercard.
Speed, Low Fees, and RWA Growth: Solana’s Case for Payments
Shinhan Card chose Solana’s network because it offers fast confirmation times and low fees, which are important for small, everyday purchases. The tests aim to measure how Solana’s performance holds up under different transaction volumes that mirror real card payment flows.
For Solana, the partnership adds another major real‑world asset and payments use case to a network that already hosts large amounts of tokenized treasuries, funds, and other assets. The Solana ecosystem has been pushing stablecoin and RWA adoption as key growth areas, and a top Korean card issuer joining those efforts is a notable win.
In addition to new regulations in South Korea and across the Asia-Pacific region, Shinhan Card says it will examine the outcomes of its stablecoin testing. Legislators are working on the Digital Asset Basic Act, a comprehensive framework anticipated to clarify how banks and payment companies can use cryptocurrencies and stablecoins.
According to the pilot’s officials, stablecoin-based payments might prevent money misuse and speed up settlement times while keeping deposits within the conventional banking system. Shinhan Card’s collaboration with Solana may progress from testnet testing into real products for millions of Korean cardholders if authorities grant clear consent and the technology proves dependable.
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