A full-scale experiment has begun to integrate a dollar-based stablecoin into the domestic card payment infrastructure. BC Card is partnering with global virtual asset company Coinbase to launch a pilot project to introduce USDC in domestic payments.
BC Card announced on the 29th that it signed a Memorandum of Understanding (MOU) with Coinbase to introduce USDC, the dollar-pegged stablecoin, for domestic payments. Amid rapidly expanding demand for global stablecoin payments, this collaboration aims to combine the two companies' technological prowess and payment infrastructure to explore a payment structure applicable to the domestic environment.
Under this agreement, the two companies will jointly pursue a demonstration project that integrates BC Card's QR payment solution with a Base Chain-based wallet, enabling users holding USDC to make payments at domestic merchants. Key challenges during the demonstration process included verifying the practical convenience of USDC payments and the interoperability between the Base Chain and existing card payment infrastructure. A particular focus will be on developing a KRW settlement process that complies with the domestic legal and institutional environment.
Beyond short-term demonstrations, the two companies will also explore ways to enhance the USDC domestic payment and settlement model based on the pilot results. Furthermore, they plan to explore mid- to long-term collaboration opportunities, including leveraging their networks to discover new affiliated services and revitalize the Korean base ecosystem.
This project symbolically demonstrates the expansion of stablecoins beyond international remittances and digital asset transactions into offline physical payment areas. The integration of blockchain-based payment methods into the card-centric domestic payment market is significant in that it can simultaneously improve global payment convenience and settlement efficiency.
BC Card has proactively secured key technology patents related to digital asset and stablecoin payment infrastructure. The plan is to combine these with the existing QR payment network to gradually build a USDC payment ecosystem tailored to the domestic market.
Coinbase emphasized that stablecoins have rapidly expanded across the global financial infrastructure since the passage of the US GENIUS Act in 2025. Since Basechain supports 15 fiat-pegged stablecoins, they anticipate that integration with BC Card's payment infrastructure will significantly increase global payment accessibility in Korea.
Industry insiders believe that if this demonstration is successful, it could mark a turning point in establishing stablecoins as a viable alternative payment method in the domestic payment market. As collaborations between card companies and global blockchain companies expand into the realm of real-world payments, attention is also focused on the potential for structural changes in the domestic payment ecosystem.
