South Korea's BC Card has successfully completed a stablecoin payment pilot aimed at foreign users. The initiative allows overseas wallet holders to convert stablecoins into digital prepaid cards, usable at Korean merchants. The project was conducted in collaboration with Wavebridge, Aaron Group, and Global Money Express. BC Card, which processes over 20% of South Korean card transactions, views this pilot as a step towards supporting stablecoin regulation. However, concerns over counter-financing of terrorism (CFT) and ongoing regulatory debates between the Financial Services Commission (FSC) and the central bank remain unresolved.
BC Card Completes Stablecoin Payment Pilot in South Korea
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
