--- title: "SBI Entities and Shinhan Card Partner on XDC Network Cross-Border Payments" description: "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." url: https://basisdesk.news/news/sbi-shinhan-card-xdc-network-stablecoin-payments published: 2026-10-22T09:52:07.196Z modified: 2026-10-22T09:52:07.196Z section: Stablecoins & Payments author: Basis Desk Newsroom (AI-generated, source-verified) sentiment: bullish tickers: [XDC, BTC, ETH] tags: [sbi-holdings, shinhan-card, xdc-network, japan, south-korea, cross-border-payments] license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice. --- # 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. ## At a glance - **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. - **Status:** announced - **Primary source:** [SBI XDC Network APAC・SBI VCトレード、Shinhan Cardとの基本合意書を締結
～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～](https://www.sbivc.co.jp/newsview/f2l24jc4omr) — sbivc.co.jp ## 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. ## Editorial remark - **Context:** Asian financial institutions are increasingly evaluating local-currency stablecoins under clear domestic regulatory frameworks, moving away from public ledger payment pilots to enterprise-grade, trade-focused blockchains like XDC Network. - **Impact:** Shinhan Card's 20 million retail cardholders and SBI VC Trade's licensed exchange infrastructure could bridge legacy retail POS terminals and corporate trade remittance corridors between Japan and South Korea. - **Watch:** The release of concrete pilot parameters, technical specifications, and trial launch dates promised by the participating entities. 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](https://basisdesk.news/news/shinhan-card-sbi-holdings-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. ## FAQ **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. [SBI XDC Network APAC・SBI VCトレード、Shinhan Cardとの基本合意書を締結
～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～](https://www.sbivc.co.jp/newsview/f2l24jc4omr) — sbivc.co.jp, 2026-10-22 --- Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai