Overview
- Shinhan Card said it signed a memorandum of understanding with the Solana Foundation to build and validate stablecoin-based payments.
- They plan an advanced proof-of-concept on Solana’s test network that models customer-to-merchant transactions and checks network reliability.
- The program will verify non-custodial wallet stability so users keep direct control of funds without relying on intermediaries.
- Shinhan Card will trial a hybrid model that links bank systems with decentralized tools, using oracles to feed real-world transaction data to smart contracts and to set up monitoring and governance.
- Both sides say any rollout will depend on compliance with South Korea’s Digital Asset Basic Act, with the tests aimed at secure, convenient services from a high-throughput, low-cost blockchain.