South Korea’s KB Card taps Avalanche for ‘hybrid’ stablecoin credit card
KB Kookmin Card is partnering with Avalanche to launch a 'hybrid' stablecoin credit card, blending traditional finance with digital assets.Summary
KB Kookmin Card, a major South Korean credit card company, is developing a hybrid stablecoin payment model using the Avalanche blockchain. This initiative follows a January announcement regarding a patent application for a system linking credit cards to digital wallets, enabling users to utilize both stablecoins and credit. The collaboration with OpenAsset aims to create a complete stablecoin system for top-ups, payments, and settlements. The system intends to make stablecoins more accessible by maintaining the familiar credit card experience and benefits, prioritizing stablecoin balances before charging the credit card. This move aligns with South Korea’s efforts to establish a stablecoin market tied to the Korean won, with new regulations expected this year through the Digital Asset Basic Act.
(Source：The Block)