Shinhan Card to Test Stablecoin Payments on Solana Testnet

According to The Block, South Korea's Shinhan Card announced Thursday a partnership with Solana Foundation to build stablecoin payment systems on Solana's blockchain. The company is conducting an advanced proof of concept this year focused on real-world payment scenarios between customers and merchants on Solana's testnet.

A core element of the PoC involves validating the security and stability of non-custodial wallets to enable Shinhan to deploy the technology at scale. Shinhan also plans to explore hybrid finance models combining traditional finance reliability with DeFi efficiency, utilizing oracle technology to connect real-world transaction data with blockchain networks.