Shinhan Card, South Korea’s Largest Credit Card Issuer, Partners with Solana for Stablecoin Payments Pilot
Seoul, South Korea – Shinhan Card, South Korea’s leading credit card company serving 28 million users and processing $145 billion in annual transactions, has partnered with the Solana Foundation to test real-world stablecoin payments on Solana’s testnet.
The collaboration, formalized through a Memorandum of Understanding (MOU) signed on April 30, 2026, at Shinhan Card’s Seoul headquarters, marks a significant step by traditional finance toward blockchain integration for everyday payments.
Advanced Testing Phase Targets Real-World Scenarios
Building on a successful 2025 pilot that included six proof-of-concept projects and developed programmable-money smart contracts, the partnership advances to more rigorous testing throughout 2026.
Key objectives include:
- Simulating consumer-to-merchant transactions on Solana’s high-throughput test network.
- Evaluating non-custodial wallets, enabling users to retain full control of digital assets without intermediaries.
- Assessing oracle technology to securely bridge real-world transaction data to the blockchain.
Kim Young-il, Shinhan Card’s Executive VP, stated: “Building on Solana, we plan to closely examine the practical applicability of blockchain technology and proactively explore next-generation financial models.”
Solana’s Appeal and Strategic Timing
Solana was selected for its high transaction speeds and low costs, processing a record $650 billion in stablecoin volume in February 2026—more than any other blockchain.
The initiative aligns with South Korea’s Digital Asset Act, with stablecoin regulations expected in 2026, positioning Shinhan to lead hybrid finance adoption.
Broader Industry Momentum
Shinhan joins a wave of Asian financial institutions exploring Solana, signaling TradFi’s shift toward decentralized infrastructure for faster, cheaper cross-border payments.
The pilot will evaluate blockchain’s technical stability, user experience, and security for Shinhan’s massive customer base, potentially paving the way for live deployments.
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