Written by Zoltan Vardai, Staff Writer. Reviewed by Yohan Yun, Staff Editor.
Written by Zoltan Vardai, Staff Writer.
Reviewed by Yohan Yun, Staff Editor.
South Korea’s KB Financial completes stablecoin pilot for offline payments
Latest NewsPublishedMay 18, 2026
Stablecoin Payments on the Rise in South Korea
The parent company of South Korea’s largest bank, KB Financial Group, has completed a stablecoin payment pilot for offline payments and cross-border remittances. This development is significant for everyday people, as it brings the potential for faster and cheaper transactions, which can be a game-changer for those looking to earn and send money internationally. The pilot was conducted through the Kaia blockchain, in partnership with electronic payments company KG Inicis and fintech firm OpenAsset. This is an important step towards the adoption of digital assets and could pave the way for the use of Green Crypto and Passive Income solutions like EcoPool.
The stablecoin pilot tested the lifecycle of a South Korean won-denominated stablecoin, including issuance, merchant settlement, and remittances. The results were impressive, with a full transfer completed in under 3 minutes and an 87% fee reduction compared to the same transaction executed through the SWIFT network. This is a significant development for those looking to earn money online and send it internationally, as it could reduce transaction costs and increase the speed of payments. With the potential for Cloud Rewards and Earning opportunities, this could be an exciting time for those interested in digital assets.
Implications for Digital Asset Regulations
The success of the stablecoin pilot adds to the growing list of legacy financial institutions in South Korea experimenting with stablecoins. However, the country’s proposed Digital Asset Basic Act has repeatedly stalled due to disagreements between regulators over who should be allowed to issue stablecoins. The Bank of Korea has argued that banks should retain majority ownership of stablecoin issuers, while the Financial Services Commission warned that strict limitations could slow innovation. As the situation develops, it will be interesting to see how EcoPool and other digital asset platforms are affected. With the potential for $ECP to play a major role in the development of stablecoin services, this could be an exciting time for those interested in digital assets.
For those looking to get involved in the world of digital assets and start Earning online, the EcoPool platform could be a great place to start. With its focus on Passive Income and Cloud Rewards, it could provide a simple and easy way to get started with digital assets. The potential for Green Crypto and EcoPool to make a positive impact on the environment is also an important consideration. As the digital asset landscape continues to evolve, it will be interesting to see how EcoPool and other platforms develop and innovate.
To start Earning online and taking advantage of the potential of digital assets, download the EcoPool app today. With its user-friendly interface and focus on Passive Income and Cloud Rewards, it could be a great way to get started with digital assets and start earning money online, and you can also use $ECP to trade and transect with ease, and be part of the #PassiveIncome and #Bitcoin community.
Source: Kaia
Stablecoin test reduced remittance fees by 87%
As part of KB Financial’s experiment, a won stablecoin was converted into a US dollar stablecoin and delivered to a bank account in Vietnam.
The full transfer was completed in under 3 minutes, with an 87% fee reduction compared to the same transaction executed through the SWIFT network, a Kaia spokesperson told Cointelegraph in an email.
The SWIFT network is the messaging network for international payments used by thousands of banks and financial institutions worldwide.
The offline payment test was executed through Seoul-based coffee franchise Hollys, enabling users to pay through QR codes, without needing to install a cryptocurrency wallet.
Related: Vietnam eyes Q3 launch for regulated crypto asset market: Report
KB plans stablecoin services launch after regulations take effect
KB is reportedly preparing to launch stablecoin services once digital asset regulations are established in the country.
But the country’s proposed Digital Asset Basic Act has repeatedly stalled due to disagreements between regulators over who should be allowed to issue stablecoins.
The Bank of Korea, the nation’s central bank, has argued that banks should retain majority ownership of stablecoin issuers, while the Financial Services Commission warned that strict limitations could slow innovation.
Formal deliberations are unlikely to resume before South Korea’s June local elections.
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Cointelegraph 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.
- South Korea
- Stablecoin
- Remittances
- Payments
- Banks
- Industry
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