Svmuu News: The joint proof of concept (PoC) conducted by the South Korean credit card industry regarding the won-pegged stablecoin is set to conclude at the end of July, and there are no plans to establish new working groups moving forward. This test focused on verifying the payment capabilities of the won-pegged stablecoin in scenarios such as QR codes and POS terminals, as well as the feasibility of converting local currencies, consumer vouchers, and credit card points into stablecoins. In the payment sector, card companies will independently advance related businesses in the future based on their own strategies:
1. Shinhan Card and KB Kookmin Card have both integrated with the Solana network;
2. BC Card has completed testing of payments made by foreign nationals using stablecoins at merchants in South Korea;
3. Woori Card plans to integrate stablecoin payment functionality into its WON Card app;
4. Samsung Card has opted for a capital partnership approach, joining forces with Samsung Securities and Samsung SDS to invest 612.8 billion won to acquire a 4% stake in Dunamu, the parent company of Upbit, with the aim of exploring the introduction of digital asset payment features on the financial platform “Monimo.” (NATE)