South Korea's KB Kookmin Card applies for a patent related to stablecoin credit cards, exploring integration with the existing credit card payment system

According to Odaily, KB Kookmin Card, a subsidiary of a major South Korean financial group, has submitted a patent application related to stablecoin payments. The patent covers a hybrid payment system that allows users to link their blockchain digital wallet address to an existing credit card. When making payments, the system prioritizes using the stablecoin balance in the wallet, with any shortfall automatically covered by the credit card.

KB Kookmin Card stated that the design aims to lower the threshold for digital asset payments and promote stablecoins from niche scenarios to the mainstream financial system, while retaining the existing credit card payment infrastructure, user experience, and rewards and protection mechanisms. Company executives said that in the future, they will evaluate the practical application path of this technology, taking into account regulatory and market conditions, and will prioritize consumer protection.

According to the report, this move comes as South Korea is advancing its stablecoin regulatory framework. Driven by relevant policies, South Korea is exploring a domestic currency stablecoin issuance mechanism centered on a banking consortium, and plans to implement the final version of the "Basic Law on Digital Assets" within the first quarter of this year. (The Block)