Shinhan Card Signs MOU with Solana for Stablecoin Payments

Shinhan Card, South Korea's largest credit card issuer serving 28 million customers, has signed a memorandum of understanding with the Solana Foundation to develop stablecoin payment systems on the Solana blockchain.

The agreement, announced recently, aims to enable stablecoin transactions for Shinhan Card's vast user base through real-world merchant and consumer scenarios. An advanced proof-of-concept test on the Solana testnet is planned for this year, building on preliminary testing completed in 2025. The trials will assess transaction speeds, network reliability, scalability under varying demand, and the security of noncustodial wallets, where users retain full control of their assets without intermediaries.

Shinhan Card officials described the partnership as a step to validate blockchain technology's practical use. "The collaboration will help deliver secure and convenient payment services by combining our expertise with Solana's infrastructure once regulatory conditions are in place," one official said. A Solana Foundation representative emphasized blending traditional finance's reliability with decentralized finance efficiency to address limitations in current systems,...