According to The Block, one of South Korea's largest credit card companies, Shinhan Card, announced a partnership with the Solana Foundation to build a stablecoin payment system on the Solana blockchain.

Based on the cooperation arrangement, Shinhan Card will conduct advanced proof of concept on the Solana testnet this year, focusing on testing real payment scenarios between consumers and merchants, and verifying the security and stability of non-custodial wallets.
The two parties will also explore a "hybrid finance" model that combines the reliability of traditional finance with the efficiency of DeFi, including integrating real transaction information into on-chain smart contracts through oracle technology.