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South Korean financial institutions are piloting stablecoin payments through foreign users, proactively laying out the relevant infrastructure
Due to the delay in the legislative process of the "Digital Asset Basic Law," several financial institutions in South Korea are providing stablecoin payment services aimed at foreign users to bypass regulatory restrictions and proactively establish infrastructure and cooperation networks.
Specifically, Hana Financial Group has partnered with Circle and Crypto.com to launch a USDC payment pilot, Danal plans to introduce similar services with Circle and Binance Pay, Crypto.com and KG Inicis have launched a payment gateway, BC Card is testing USDC payment technology with Coinbase, and KB Kookmin Card has applied for a patent for the integration of stablecoin and bank card payments. Analysts say that these services aimed at foreign users are equivalent to a "regulatory sandbox," helping companies validate their business models before formal policies are implemented.
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