SBI Digital Trust Partners with Korean Companies on Stablecoin Payments

SBI Digital Trust has announced a joint verification agreement with two South Korean companies to commercialize the use of stablecoins for cross-border payments and transactions. The project aims to enable Japanese travelers to make QR code payments at participating stores in Korea.

The joint verification, which began on October 1, involves SBI Digital Trust, Nice Information & Telecommunication (NICE), a South Korean payment service provider, and DSRV, a South Korean blockchain infrastructure company. The project is expected to be completed by December 31, 2026.

During the joint verification process, the three companies will focus on several key areas, including the movement of funds between Japanese users and participating stores in Korea, payment instructions, and system connections. They will also consider the scale and cost of transactions as well as the business feasibility of the project.

The roles of each company are as follows: SBI Digital Trust will utilize its expertise in Japanese regulations, payments, digital assets, and financial infrastructure to develop a payment mechanism for cross-border transactions. Nice Information & Telecommunication will leverage its experience in operating payment infrastructures in Korea and its network of participating stores to explore the feasibility of using stablecoins for payments.