SBI Affiliate to Test Japan–South Korea Stablecoin Retail Payments — Eter News

Enriched Analysis 深度解析

SBI Affiliate to Test Japan–South Korea Stablecoin Retail PaymentsSBI旗下公司将测试日韩稳定币零售支付

SBI Digital Trust, NICE Information & Telecommunication and DSRV will test cross-border remittance and settlement between Japan and South Korea using stablecoins. The planned model would let Japanese users scan QR codes at NICE merchant locations in South Korea, while the companies assess technical operations, costs, transaction volumes and regulatory feasibility before deciding whether to commercialize the service.SBI Digital Trust、NICE Information & Telecommunication与DSRV将测试利用稳定币进行日韩跨境汇款和结算。计划中的模式将允许日本用户在韩国NICE商户门店扫描二维码，三家公司将评估技术和运营流程、成本、交易量及监管可行性，再决定是否商业化。

BigGo Finance 1 Oct 2026 2026年10月1日

1.21.2

South Korean merchant locations韩国商户门店

3.83.8

JPYSC issuanceJPYSC发行量

01The Story新闻事实

SBI Digital Trust, NICE Information & Telecommunication and DSRV will test cross-border remittance and settlement between Japan and South Korea using stablecoins. The planned model would let Japanese users scan QR codes at NICE merchant locations in South Korea, while the companies assess technical operations, costs, transaction volumes and regulatory feasibility before deciding whether to commercialize the service.SBI Digital Trust、NICE Information & Telecommunication与DSRV将测试利用稳定币进行日韩跨境汇款和结算。计划中的模式将允许日本用户在韩国NICE商户门店扫描二维码，三家公司将评估技术和运营流程、成本、交易量及监管可行性，再决定是否商业化。

  • The three companies signed a memorandum of understanding on September 30 and are targeting completion of verification by the end of December 2026.三家公司于9月30日签署谅解备忘录，目标是在2026年12月底前完成验证。
  • The envisioned use case involves Japanese users making QR code payments at NICE merchant locations in South Korea, with stablecoins used for merchant settlement.设想中的应用场景是日本用户在韩国NICE商户门店使用二维码付款，并以稳定币向商户结算。
  • NICE Information & Telecommunication supports approximately 1.2 million merchant locations in South Korea.NICE Information & Telecommunication在韩国支持约120万家商户门店。
  • The companies will examine payment-system integration, fund flows, transaction volumes, costs and operational challenges.三家公司将研究支付系统整合、资金流、交易量、成本和运营挑战。
  • The initiative is SBI Group’s second Japan–South Korea settlement project; its August initiative targeted a blockchain settlement network for financial institutions.这是SBI集团第二个日韩结算项目；该集团8月启动的项目面向由金融机构参与的区块链结算网络。
  • SBI Group’s yen-denominated stablecoin JPYSC had issuance of approximately ¥3.8 billion.SBI集团发行的日元计价稳定币JPYSC发行量约为38亿日元。

The test links an existing Korean merchant network with Japanese payment and regulatory expertise, but its commercial path depends on unresolved stablecoin rules in both countries.该测试将韩国现有商户网络与日本的支付和监管经验连接起来，但其商业化前景取决于两国尚未确定的稳定币监管规则。

024 Dimensions维度分析

Stakeholder impact利益相关方

Retail payment reach零售支付覆盖范围

NICE brings an established South Korean merchant network to a project that currently focuses on in-store retail payments rather than only institution-to-institution settlement. The scale provides an operational setting for testing integration with existing payment systems.NICE将成熟的韩国商户网络引入一个目前聚焦线下零售支付、而非仅面向机构间结算的项目。该网络规模为测试区块链与现有支付系统的整合提供了运营场景。

South Korean merchant locations韩国商户门店

1.2 million locations1.2百万家

  • NICE will examine in-store payment and settlement operations and integration with existing systems.NICE将研究线下支付与结算运营，以及与现有系统的整合方式。
Comparison对比

From institutional settlement to consumer payments从机构结算转向消费者支付

The current project differs from SBI Group’s August initiative by targeting Japanese users paying at physical retail locations in South Korea. Together, the two projects cover institution-focused infrastructure and consumer-facing payments.当前项目与SBI集团8月启动的项目不同，后者面向日本用户在韩国实体零售门店付款。两个项目分别覆盖机构导向的基础设施和面向消费者的支付场景。

  • The August initiative targeted a blockchain settlement network for financial institutions.8月启动的项目目标是建设面向金融机构的区块链结算网络。
  • The current initiative targets in-store retail payments using QR codes and stablecoin settlement.当前项目面向使用二维码和稳定币结算的线下零售支付。
Cause因果关系

Regulation sets the commercialization boundary监管决定商业化边界

The companies will proceed with technical and operational verification while South Korea’s stablecoin framework remains under discussion. Japan-side issues include treatment under the Payment Services Act and anti-money laundering compliance.在韩国稳定币监管框架仍在讨论之际，三家公司将先推进技术和运营验证。日本方面的问题包括稳定币在《支付服务法》下的定位以及反洗钱合规要求。

  • Commercial viability will be determined based on regulatory, institutional and policy developments in both countries.商业可行性将根据两国的监管、制度和政策发展来判断。
  • The companies will decide whether to proceed with commercialization after the verification is completed.验证完成后，三家公司将决定是否推进商业化。
Historical context历史脉络

SBI’s existing stablecoin baseSBI现有的稳定币基础

The cross-border test extends SBI Group’s existing stablecoin activity into settlement between Japan and South Korea. JPYSC provides a stated example of the group’s yen-denominated stablecoin issuance experience.这项跨境测试将SBI集团现有的稳定币业务延伸至日韩结算领域。JPYSC则体现了该集团在发行日元计价稳定币方面已有的经验。

JPYSC issuanceJPYSC发行量

3.8 billion yen3.8十亿日元

  • SBI Group has issued JPYSC, described in the source as Japan’s first trust-type yen-denominated stablecoin.SBI集团已发行JPYSC，来源称其为日本首个信托型日元计价稳定币。

03Timeline时间线

  1. 2026-08 SBI Group signed an agreement with a South Korean company for a blockchain settlement network focused on financial institutions.SBI集团与一家韩国公司签署协议，建设面向金融机构的区块链结算网络。
  2. 2026-09-30 SBI Digital Trust, NICE Information & Telecommunication and DSRV signed a memorandum of understanding for the joint test.SBI Digital Trust、NICE Information & Telecommunication与DSRV签署联合测试谅解备忘录。
  3. 2026-10-01 SBI Digital Trust announced the Japan–South Korea stablecoin remittance and settlement test.SBI Digital Trust宣布开展日韩稳定币汇款和结算测试。
  4. 2026-12 The companies are targeting completion of verification by the end of the month.三家公司目标是在当月底前完成验证。

Key takeaway核心结论

The initiative is an early-stage test of stablecoin-based retail settlement between Japan and South Korea, with commercialization contingent on technical results and regulatory progress.该项目是日韩稳定币零售结算的早期测试，能否商业化取决于技术验证结果和监管进展。

04What to Watch后续关注

  1. Whether the companies complete the planned verification by the end of December 2026.三家公司能否在2026年12月底前完成计划中的验证。
  2. How QR-code payments, merchant settlement and blockchain instructions are integrated with existing systems.二维码支付、商户结算和区块链指令如何与现有系统整合。
  3. Whether South Korea finalizes its stablecoin regulatory framework and how Japan applies the Payment Services Act to the model.韩国是否最终确定稳定币监管框架，以及日本如何依据《支付服务法》处理该模式。
  4. Whether the participants decide to proceed with commercialization after assessing costs, transaction volumes and operational challenges.参与方在评估成本、交易量和运营挑战后，是否决定推进商业化。

05Uncertainties不确定因素

  • South Korea’s stablecoin regulatory details remain under discussion.韩国稳定币监管细节仍在讨论之中。
  • Japan-side treatment under the Payment Services Act and anti-money laundering requirements remain relevant compliance questions.在日本，稳定币在《支付服务法》下的定位及反洗钱要求仍是需要解决的合规问题。
  • The source describes a planned verification, not a confirmed commercial launch or demonstrated transaction performance.来源描述的是计划中的验证，而非已经确定的商业上线或已证明的交易表现。

06Sources信息来源

  1. SBI Affiliate to Jointly Test Japan-South Korea Stablecoin Settlement, Connecting to 1.2 Million Merchant Network in South Korea — BigGo FinanceSBI Affiliate to Jointly Test Japan-South Korea Stablecoin Settlement, Connecting to 1.2 Million Merchant Network in South Korea — BigGo Finance BigGo Finance · 2026-10-01

Share this analysis 分享此深度分析

X Facebook LinkedIn WhatsApp