South Korean card firms to launch second task force on stablecoin payments

South Korean credit card companies are preparing to launch a second task force to explore the introduction of a stablecoin-based payment system, Yonhap Infomax reported. The initiative, led by South Korea's Credit Finance Association, will include nine major firms: Samsung, Shinhan, KB Kookmin, Hyundai, Lotte, Hana, Woori, BC, and NH Nonghyup Card. The group plans to discuss the structure of a stablecoin payment system, from card transactions to merchant settlements, as well as the potential for introducing a debit card capable of handling stablecoin transactions at card terminals.

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