Korean credit association, Lambda256 to test stablecoin card payments

South Korea's Credit Finance Association is launching a three-month proof-of-concept (PoC) with Lambda256, the blockchain technology subsidiary of Dunamu, to develop a stablecoin-based card payment system, The Herald Business reported. The initiative aims to prepare for potential future legislation on won-denominated stablecoins. The goal is for card companies to preemptively establish standards for controlling settlement risk by acting as payment operators, regardless of who issues the stablecoins. This would involve creating an ecosystem in advance that enables seamless stablecoin payments using the existing card network.