South Korean card giant completes stablecoin payments pilot for foreigners

South Korean payments giant BC Card has completed a pilot allowing foreign users to pay local merchants via stablecoins.

South Korean payments processor BC Card has completed a pilot project that enabled foreign users to pay local merchants using stablecoins.

BC Card’s pilot project was announced Tuesday and was conducted with blockchain company Wavebridge, wallet provider Aaron group and cross-border remittance provider Global Money Express. The companies had foreign users convert their stablecoins held in overseas wallets, which were partnered with BC Card, into digital prepaid cards.

The company said this pilot was not a short-term project, but part of preparations to implement a stablecoin payment structure. The change is a response to the evolution of South Korean stablecoin regulations, it said.

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