According to CoinMeta, Shinhan Card has signed agreements with SBI VC Trade and SBI XDC Network APAC to test Japanese yen stablecoin payments and cross-border settlements between Japan and South Korea. The testing scope includes stablecoin card payments, payments between wallets, cross-border settlements, as well as anti-money laundering and fraud detection mechanisms. Shinhan Card completed the proof of concept for stablecoin payments and cross-border settlements in April of this year, and SBI VC Trade was registered as Japan's first electronic payment tool transaction service provider in March 2025, capable of handling USDC.