South Korean Giant BC Card Concludes Stablecoin Payments Pilot Ahead Of 2026 Framework

South Korean funds big BC Card has accomplished its pilot mission to confirm the soundness and comfort of card-integrated stablecoins in collaboration with home and worldwide digital asset corporations.

BC Card Completes Stablecoin Payment Pilot Project For Foreigners

On Tuesday, South Korea’s largest cost processing firm, BC Card, announced it had concluded its two-month pilot mission enabling foreigners to make use of stablecoins as a cost technique at home retailers.

The mission was performed alongside blockchain monetary agency Wavebridge, abroad digital pockets firm Aaron Group, and remittance fintech firm Global Money Express.

According to BC Card, the pilot centered on “verifying whether or not international currency-based stablecoins held by foreigners may very well be virtually used throughout the home cost setting, whereas additionally assessing cost comfort and stability.”

For the mission, international customers transformed their stablecoins held in oversea wallets parented with BC Card into digital pay as you go playing cards that may very well be used at home affiliated retailers utilizing a QR code, with out requiring a bodily card or forex trade procedures.

The firm integrated stablecoin funds into the prevailing card authorization and settlement construction utilizing a digital pay as you go card as an middleman, the announcement defined, noting that “this design permits each paying prospects and retailers to transact in the identical method as with typical card funds.”

BC Card’s President, Choi Won-seok, acknowledged, “Stablecoins, on account of their technical traits, are notably helpful for cross-border funds and maintain important potential to enhance the home cost expertise for international customers.”

South Korean Companies Prepares For 2026 Framework

The funds big affirmed that the pilot was not a “short-term technical verification” however a “course of to arrange a stablecoin cost construction attentive to future home authorized and regulatory adjustments.”

Notably, the South Korean authorities just lately did not submit the extremely anticipated invoice for the Second Phase of the Virtual Asset User Protection Act, which can tackle the issuance and distribution of won-pegged stablecoins.

As reported by Bitcoinist, the Financial Services Commission (FSC) didn’t meet the ruling occasion’s December 10 deadline to submit the federal government’s laws to the National Policy Committee.

According to native media, the federal government invoice was delayed after the FSC and the Bank of Korea (BOK) did not resolve their variations over the issuance of won-denominated stablecoins.

The monetary authorities reportedly agree that monetary establishments should be concerned within the issuance of the tokens however disagree on the extent of banks’ function. While the central financial institution has been pushing for a consortium of banks proudly owning no less than 51% of any stablecoin issuer in search of approval within the nation, the FSC has expressed issues that giving a majority stake to banks may scale back participation from tech corporations and restrict the market’s innovation.

Recent reviews affirmed that the federal government’s proposal is anticipated to be introduced by early subsequent month on the newest, because the built-in invoice should be submitted in January 2026. “To defend the general public’s proper to know, there will probably be a separate alternative to clarify the federal government’s proposed invoice to the general public whereas submitting it to the National Assembly,” an FSC official acknowledged final week.

Ultimately, BC Card pledged to strengthen its cooperation with related businesses whereas contemplating the movement of digital asset laws, aiming to “lead the institution of a ‘Korean-style stablecoin cost infrastructure’ by progressively advancing a cost mannequin compliant with home rules.”

“BC Card will leverage its card cost infrastructure to progressively put together a steady stablecoin cost mannequin that aligns with Korea’s authorized and regulatory setting,” the corporate’s president concluded.