"Shinhan Card, South Korea's largest credit card issuer, is stepping deeper into blockchain technology through a new partnership with the Solana Foundation, as traditional financial institutions accelerate efforts to integrate digital assets into mainstream payments."
"The initiative builds on an earlier proof-of-concept and will now move into a more advanced testing phase, simulating real-world payment scenarios using Solana's test network."
"A key focus will be non-custodial wallets, which allow users to hold and manage their own funds without intermediaries, assessing both technical stability and operational viability."
"Beyond payments, the collaboration will explore a hybrid financial model that merges traditional banking systems with decentralized finance, using oracle technology."
Shinhan Card has partnered with the Solana Foundation to develop stablecoin payment systems and hybrid finance models. This collaboration follows a proof-of-concept and will utilize Solana's test network for real-world payment simulations. The focus includes testing transactions between consumers and merchants, assessing non-custodial wallets for user control and security, and evaluating the blockchain's performance. The initiative aligns with South Korea's Digital Asset Act and aims to integrate digital assets into mainstream finance.
Read at news.bitcoin.com
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