BlockBeats News, March 31st: KB Card, one of South Korea’s largest credit card companies, announced a partnership with Avalanche to launch a “Hybrid Stablecoin” credit card payment model. Built on KB Card’s hybrid payment patent, this model combines a stablecoin with traditional credit cards. Users can link their digital wallet to their existing credit card, prioritize using the stablecoin balance for payments, and have any remaining amount automatically deducted from the credit card. In addition, KB Card announced a collaboration with the digital asset infrastructure company OpenAsset to jointly develop a complete stablecoin system, including recharge, payment, and settlement, reducing the barriers for users to use stablecoins while retaining credit card rewards and benefits.
Currently, South Korea is actively promoting a won-denominated stablecoin market. It is expected that the “Digital Assets Basic Act” will establish a regulatory framework within this year, and multiple banks and payment institutions are preparing related products.
