SBI Tests Stablecoin QR Payments for Tourists in South Korea

The collaborative effort, formalized in a memorandum signed at NICE’s Seoul headquarters on September 30, focuses on the practical mechanics of a digital checkout flow. Unlike theoretical blockchain trials, this study integrates actual merchant infrastructure, utilizing the network of approximately 1.2 million vendors affiliated with NICE. The partners are evaluating how funds move from a Japanese user's wallet to a Korean merchant, examining payment instructions, and testing system interoperability.

While the technology shows promise, the initiative faces a fragmented regulatory landscape. Japan has already codified fiat-linked stablecoins under its Payment Services Act, but South Korea’s framework for won-linked digital assets remains a work in progress. DSRV is managing the blockchain architecture, while SBI DigiTrust oversees the Japanese regulatory compliance and payment structure. The partners have set a deadline of December 2026 to complete their verification, which will determine the feasibility of a full-scale commercial launch. No specific stablecoin, blockchain, or exchange model has been identified for the service as of yet.