BC Card tests stablecoin-based merchant payments amid evolving regulatory landscape
South Korea’s payments industry is taking a concrete step toward digital currency adoption after BC Card successfully completed a stablecoin payments pilot for foreign users. The initiative highlights growing interest in blockchain-based payment rails as regulators and financial institutions prepare for wider stablecoin integration.
The pilot allowed foreign visitors to pay South Korean merchants using stablecoins, bridging overseas crypto wallets with domestic payment infrastructure. Participants converted stablecoins held in partnered international wallets into digital prepaid cards, which were then accepted by local merchants through BC Card’s network.
The trial was carried out in collaboration with blockchain firm Wavebridge, wallet provider Aaron Group, and cross-border remittance company Global Money Express. BC Card emphasized that the project is part of a long-term strategy to build a stablecoin payment framework, rather than a limited experiment.
BC Card is among South Korea’s largest payment processors, handling over 20% of national card transactions and servicing approximately 3.4 million merchants nationwide. Its majority shareholder, KT Corp, is one of the country’s leading telecommunications providers, giving the firm significant reach across both finance and technology sectors.
The pilot comes as stablecoin regulation in South Korea continues to evolve. Policymakers are debating the structure of future frameworks, including whether banks should hold controlling stakes in stablecoin issuers. Ongoing discussions between financial regulators and the central bank have delayed formal rulemaking, but industry players are actively preparing for eventual clarity.Globally, stablecoins are gaining traction as payment alternatives, complementing traditional cards and bank transfers. Their appeal lies in faster settlement, lower costs, and cross-border efficiency.
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