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South Korea’s leading card issuer Shinhan Card has moved deeper into blockchain finance through a new partnership with Solana Foundation. The agreement targets stablecoin-powered payments for millions of users while testing how decentralized infrastructure can integrate with traditional financial systems. With access to roughly 28 million customers, the initiative signals a step toward mainstream adoption of blockchain-based payments, even as market volatility continues.
Shinhan Card plans to develop real-world payment scenarios using Solana’s test environment. Engineers will simulate transactions between consumers and merchants while assessing network performance.
The project will also evaluate non-custodial wallets that give users direct control over their funds. The approach is intended to reduce reliance on intermediaries and align with broader decentralization trends.
Beyond payments testing, the companies will explore hybrid financial systems that combine traditional banking rails with decentralized finance tools. Shinhan Card expects this to help unlock new services bridging conventional and blockchain-based ecosystems.
The firm will also integrate oracle technology to connect real-world data with blockchain networks securely.
The partnership emphasizes compliance and long-term deployment. Shinhan Card aims to refine its infrastructure before launching consumer-facing services.
It will also design monitoring frameworks for smart contract execution and operational stability, intended to support readiness once regulators provide clearer guidelines.
The collaboration reflects a broader industry shift toward practical blockchain applications, with financial institutions prioritizing usability, security, and regulatory alignment over experimentation.
Despite the development, Solana has faced short-term selling pressure. The token trades near $83 after recent declines, reflecting broader market weakness.
Analyst Altcoin Sherpa said the asset may be oversold, noting that price compression near support can signal seller exhaustion. He highlighted the $80–$90 range as a critical support zone.
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