Shinhan Card Partners with Solana for Stablecoin Payments, DeFi Infrastructure | Crypto ETF News
Crypto ETF news: Shinhan Card Partners with Solana for Stablecoin Payments, DeFi Infrastructure. This update explains what changed, why it matters for institutional adoption, market flows, and investor sentiment, and what the crypto market should watch next.
Institutional And ETF Update
One of South Korea’s largest credit card providers, Shinhan Card, signed a memorandum of understanding with the Solana Foundation to test stablecoin payment technology and explore the use of non-custodial wallets through a more advanced follow-on proof of concept (PoC). Following a joint pilot project completed at the beginning of April, the new partnership will conduct a more “advanced” PoC to explore the commercial feasibility of stablecoin payments for merchants and customers seeking an improved payment experience, Shinhan Card announced on Thursday.The partnership will also explore developing a “hybrid financial model” that combines traditional finance (TradFi) and decentralized finance (DeFi) infrastructure.The move signals that South Korea’s second-largest credit card provider is exploring the implementation of blockchain technology to improve retail merchant payment interactions. Shinhan Card is South Korea’s second-largest credit card issuer with a 16.9% market share, which was overtaken by Samsung Card’s 17.02% market share for the top spot in March, KED Global reported.Related: European investors may switch banks for better crypto access, survey findsShinhan Card to develop smart contract-based DeFi servicesShinhan Card said that the partnership’s ultimate goal is to explore DeFi-linked services of its own, which implement blockchain oracles, a technology used to connect information in offchain and onchain environments.The credit card giant said it will also explore the “execution stability” of smart contracts, which are self-executing, digital agreements with terms written in code, used to disintermediate transactions.On April 9, Shinhan Card said it completed a successful PoC with the Solana Foundation on six key areas, including blockchain-based peer-to-peer payments, digital asset integrated payment infrastructure, stablecoin-based check and credit hybrid products, stablecoin-based cross-border remittances and settlement, stablecoin payments and IC chip-based card payment services for crypto wallets.Shinhan said the earlier PoC could serve as a blueprint for bridging the existing fiat-based payment systems with the digital asset ecosystem to discover new business models that can “increase customer convenience in the payment and settlement areas” and strengthen its competitiveness in “next-generation financial markets.” Other large stablecoin issuers exploring stablecoins for improved payments and settlement include Visa, Mastercard and BC Card.Visa is among the more advanced examples, having launched USD Coin (USDC) settlement services for some US-based financial institutions on the Solana blockchain in December 2025.Magazine: Singapore isn’t a ‘crypto hub’ — it’s something better: StraitsX CEOCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
Why This ETF News Matters
First, this development may affect institutional demand, exchange flows, market liquidity, and broader investor confidence. In addition, it may influence custody trends, fund positioning, and future crypto product approvals. As a result, traders and investors should watch the next moves closely.
What To Watch Next
Watch for filing updates, approval decisions, inflow and outflow data, custody changes, and asset manager commentary. In particular, any new developments involving BlackRock, Grayscale, Fidelity, or major spot ETF products could directly affect the broader crypto market.
