BC Card Pilots Stablecoin Payments for Foreign Users in South Korea
The post BC Card Pilots Stablecoin Payments for Foreign Users in South Korea appeared on BitcoinEthereumNews.com.
South Korean payments giant BC Card has completed a pilot project enabling foreign users to pay local merchants using stablecoins. The initiative, conducted with blockchain firm Wavebridge, wallet provider Aaron Group, and remittance service Global Money Express, converted overseas stablecoins into digital prepaid cards for seamless transactions. BC Card processes over 20% of South Korea’s card transactions and serves 3.4 million domestic merchants. The pilot forms part of broader preparations to integrate stablecoin payments amid evolving regulations. South Korea’s Financial Services Commission faces delays in stablecoin rules due to debates over bank ownership requirements, with the Bank of Korea pushing for at least 51% control. Discover how BC Card’s stablecoin pilot revolutionizes payments in South Korea. Foreign users now pay merchants via stablecoins converted to prepaid cards. Explore regulatory shifts and global trends—stay ahead in crypto payments today. What is BC Card’s stablecoin pilot in South Korea? BC Card’s stablecoin pilot allows foreign users to convert their overseas-held stablecoins into digital prepaid cards for payments at South Korean merchants. The project, announced on Tuesday, involved partnerships with blockchain company Wavebridge, wallet provider Aaron Group, and cross-border remittance firm Global Money Express. This initiative is not a one-off trial but a strategic step toward implementing a full stablecoin payment infrastructure, driven by South Korea’s advancing stablecoin regulations. How does the BC Card stablecoin conversion process work? The process begins with foreign users holding stablecoins in partnered overseas wallets. These assets are converted into digital prepaid cards compatible with BC Card’s network, enabling direct payments to the company’s extensive merchant base of 3.4 million locations. BC Card, which handles over 20% of South Korea’s card transactions and is majority-owned by telecom leader KT Corp, emphasized that this setup addresses the growing demand for efficient cross-border payments. According to Shehram Khattak, general counsel…
Filed under: News - @ December 23, 2025 4:22 pm