press release<\/a> from Shinhan Card, the company has begun an advanced proof-of-concept this year to simulate real-world payment interactions between customers and merchants using Solana\u2019s testnet. The trial focuses on how stablecoin transactions can function in everyday retail settings while assessing system performance under practical conditions.<\/p>\n\u201cBuilding on Solana, we plan to closely examine the practical applicability of blockchain technology and proactively explore next-generation financial models,\u201d said Kim Young-il, executive vice president of Shinhan Card, outlining the company\u2019s plan to assess how distributed ledger systems can support future payment frameworks.<\/p>\n
A central part of the test involves verifying the security and stability of non-custodial wallets, which Shinhan Card is assessing as a requirement for scaling blockchain-based payments across its network.\u00a0<\/p>\n
<\/p>\n
The company stated in its release that it is also exploring hybrid finance structures that combine elements of traditional financial systems with decentralized finance protocols.<\/p>\n
Shinhan Card said it plans to develop its own DeFi service environment using oracle technology to connect real-world transaction data with blockchain systems. The company noted that this setup would support smart contract execution while maintaining operational stability through monitoring and governance mechanisms.<\/p>\n
The firm will evaluate the results of the pilot in line with regulatory developments in South Korea and the Asia-Pacific region. South Korean lawmakers are currently working on the Digital Asset Basic Act, a comprehensive regulatory framework expected to be finalized within the year.<\/p>\n
Activity across the country\u2019s financial sector has increased ahead of the legislation. KBank, which partners with crypto exchange Upbit, has announced a collaboration with Ripple to test blockchain-based cross-border remittances, according to previous disclosures.<\/p>\n
Government-led blockchain trials have also been expanding into public finance. The Ministry of Economy and Finance has selected a regulatory sandbox project that uses tokenized deposits to manage government spending, with a rollout planned for the fourth quarter of 2026.<\/p>\n
According to the ministry, the system will first be deployed in Sejong City, where blockchain-based deposits will replace government-issued cards for official expenses. The framework allows authorities to predefine spending conditions such as time limits and usage categories, improving oversight compared to post-transaction reporting.<\/p>\n
The ministry confirmed that nine banks, including Shinhan, are participating in the initiative to issue and manage tokenized deposits, linking the government\u2019s Digital Budget and Accounting System with blockchain records.\u00a0<\/p>\n
Officials said the trial is expected to reduce misuse of funds and shorten settlement times while maintaining stability by keeping deposits within the traditional banking system.<\/p>\n
<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Shinhan Card has entered a partnership with the Solana Foundation to develop and test stablecoin-based payment systems on blockchain infrastructure. Summary Shinhan Card has partnered with Solana Foundation to test…<\/p>\n","protected":false},"author":1,"featured_media":1079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/27113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=27113"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/27113\/revisions"}],"predecessor-version":[{"id":27114,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/27113\/revisions\/27114"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/1079"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=27113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=27113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=27113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}