South Korea's KB Card Partners with Avalanche to Launch "Hybrid Stablecoin" Credit Card

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. Building on KB Card's Hybrid Payment Patent, this model combines a stablecoin with traditional credit cards. Users can link their digital wallets to existing credit cards, prioritize using the stablecoin balance for payments, and have any remaining balance automatically deducted from the credit card. Additionally, KB Card announced a collaboration with the digital asset infrastructure company OpenAsset to jointly develop a comprehensive 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 stablecoin market anchored to the Korean Won. It is expected that the "Digital Asset Basic Law" will introduce a regulatory framework later this year, and multiple banks and payment institutions are preparing related products.