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Stablecoins & Payments · 1 min read

SBI Entities and Shinhan Card Partner on XDC Network Cross-Border Payments

SBI XDC Network APAC, SBI VC Trade, and South Korea's Shinhan Card signed a memorandum of understanding to test yen stablecoin settlements and retail point-of-sale integrations.

Editorial oversight: Julian Mercer, Chief Editor
Bullish
$BTC $81,863 −1.8% $ETH $2,401 −2.4%

At a glance Announced

What happened
SBI XDC Network APAC, SBI VC Trade, and Shinhan Card signed an MOU to build a cross-border blockchain payment system using the XDC Network.
Why it matters
The initiative links South Korea's largest card issuer with licensed Japanese crypto infrastructure to test practical yen stablecoin retail and trade settlements.
Who is affected
Shinhan Card cardholders, institutional clients of SBI VC Trade, and commercial merchants engaging in cross-border Japan-Korea trade.
Takes effect
2026-10-21
What's next
The three firms will disclose specific proof-of-concept testing initiatives and implementation timelines in future announcements.
Primary source
sbivc.co.jp: SBI XDC Network APAC・SBI VCトレード、Shinhan Cardとの基本合意書を締結<br>～ブロックチェーン基盤のグローバル決済エコシステム構築に向けたパートナーシップを強化～

Key points

  • SBI XDC Network APAC, SBI VC Trade, and Shinhan Card signed an MOU on Oct. 21 to build a blockchain payment ecosystem.
  • The companies plan to pilot physical retail integrations using Japanese yen-denominated stablecoins on the XDC Network.
  • The collaboration targets cross-border corporate trade settlements between Japan and South Korea.

SBI XDC Network APAC and Japanese crypto exchange operator SBI VC Trade have signed a memorandum of understanding with South Korean credit card issuer Shinhan Card to construct a blockchain-based cross-border payments ecosystem 1. The tripartite agreement, announced on Oct. 21, focuses on evaluating digital asset settlement models that connect enterprise distributed ledgers to established financial payment channels 1.

Under the framework, SBI XDC Network APAC and Shinhan Card plan to develop infrastructure utilizing the enterprise-focused XDC Network 1. The entities will study the feasibility of next-generation digital payment services, while SBI VC Trade will join to assess cross-border settlements conducted with stablecoins 1. The exploratory scope includes proof-of-concept testing to connect Japanese yen-denominated stablecoins to physical retail payment systems, analyzing trade execution processes, user experience, and technical operational structures 1.

Expanding Into Japan-Korea Trade Settlement

The initiative also targets international trade settlement between Japan and South Korea 1. The three organizations announced plans to assess integrations between legacy international remittance mechanisms and distributed asset infrastructure to streamline corporate payment flows 1. Specific implementation schedules and proof-of-concept milestones will be released in subsequent announcements 1.

The pact expands on existing institutional experimentation between the two financial groups, following prior cooperation where Shinhan Card and SBI Holdings partnered to test yen stablecoin payments across regional corridors 1. Shinhan Card maintains a customer base of roughly 20 million cardholders as a core subsidiary of Shinhan Financial Group, while SBI VC Trade holds licensing as a Japanese crypto asset exchange and electronic payment instruments service provider 1.

At the time of writing, broader digital asset markets traded slightly lower, with bitcoin ($BTC) hovering around $81,803 and ether ($ETH) at $2,402, while institutional adoption across Asian commercial rails continues to focus on compliant, currency-pegged tokens.

Questions this story raises

What is the primary objective of the MOU between SBI and Shinhan Card?
The agreement establishes a framework to evaluate blockchain-based payments, focusing on retail point-of-sale integrations with yen stablecoins and cross-border corporate trade settlement between Japan and South Korea on the XDC Network.
Which blockchain network is being utilized?
The partnership centers on XDC Network, a hybrid smart contract platform tailored for enterprise supply chains and trade finance.

Sources

  1. [1] SBI XDC Network APAC・SBI VCトレード、Shinhan Cardとの基本合意書を締結<br>～ブロックチェーン基盤のグローバル決済エコシステム構築に向けたパートナーシップを強化～ — sbivc.co.jp, October 22, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.

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