Core Insights - BC Card has successfully completed a pilot program allowing foreign users to pay local merchants in South Korea using stablecoins, demonstrating the feasibility of stablecoin integration in the card payment sector [1][3][4] Group 1: Pilot Program Details - The pilot involved converting stablecoins from overseas wallets into digital prepaid cards, enabling tourists to spend them at Korean shops without any technical issues [1] - The trial was conducted in collaboration with blockchain company Wavebridge, wallet provider Aaron Group, and cross-border remittance provider Global Money Express, ensuring that merchants did not need new hardware or training [3] - BC Card processes over 20% of South Korea's card transactions and serves approximately 3.4 million merchants, indicating its significant role in the payment ecosystem [3] Group 2: Regulatory Environment - Regulatory progress has been slow, with the Financial Services Commission (FSC) missing a December deadline for a stablecoin bill due to disagreements with the Bank of Korea regarding ownership structures [5] - A new draft proposes a consortium model where banks maintain majority ownership while tech companies provide technical expertise, reflecting ongoing negotiations in the regulatory landscape [5] Group 3: Future Outlook - BC Card's CEO emphasized the potential of stablecoins for efficient cross-border payments, which can help tourists and international shoppers avoid high fees and delays [6] - The company is preparing for a gradual rollout of stablecoin payments that aligns with legal and institutional requirements, indicating a proactive approach to future developments [6][7] - BC Card is positioning itself to implement stablecoin payments as soon as regulatory frameworks are finalized, laying the groundwork for a future-ready payment infrastructure [7]

Core Insights - BC Card has completed a stablecoin payment pilot allowing foreign users to pay local merchants in South Korea using stablecoins [1] Company Overview - BC Card is one of the largest payment companies in South Korea, reportedly handling over 20% of the country's card transactions [1] - The company covers approximately 3.4 million local merchants [1] Pilot Program Details - The pilot was conducted in collaboration with blockchain company Wavebridge, wallet service provider Aaron Group, and cross-border remittance agency Global Money Express [1] - Foreign users can exchange stablecoins from overseas wallets into digital prepaid cards for consumption [1]