According to Shinhan Card, the South Korean payment card company signed a strategic memorandum of understanding (MOU) with Solana Foundation on April 30 to collaborate on stablecoin payments and Web3 payment ecosystem expansion.
The partnership builds on a proof-of-concept (PoC) completed last year. Shinhan Card and Solana Foundation plan to conduct an advanced PoC this year using Solana’s testnet to implement payment scenarios between customers and merchants, while verifying blockchain network stability and usability. The collaboration also includes security validation for non-custodial wallets and development of a hybrid finance model combining traditional finance and decentralized finance (DeFi) through oracle technology.
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