KB Kookmin Card Joins Mastercard Crypto Partner Program, Tests Stablecoin Payments
Summary
- KB Kookmin Card said it has joined Mastercard’s global digital-asset partnership program, CPP (Crypto Partner Program).
- It said it plans to use Coinbase’s blockchain wallet to verify whether stablecoins can be linked with KB Pay and to examine related payment technology.
- It said the pilot will help it build technology and payment infrastructure in preparation for expansion of the stablecoin payments market.
Forecast Trend Report by Period
KB Kookmin Card has joined Mastercard’s global digital-asset partnership program and plans to test payment technology linking stablecoins with KB Pay.
Electronic Times reported on September 21 that KB Kookmin Card joined Mastercard’s Crypto Partner Program, or CPP, to respond to changes in the global stablecoin payments market. CPP is a global partnership program designed to connect the crypto and blockchain ecosystem with traditional payment networks.
Through CPP, KB Kookmin Card plans to expand cooperation with global payment networks and digital-asset companies. It also aims to pre-verify payment technologies and processes ahead of changes in South Korea’s related laws and institutional framework.
In particular, the company will use Coinbase’s blockchain wallet to verify whether stablecoins can be linked with KB Pay. It plans to examine technology needed for real-world payments, including connecting blockchain transactions with conventional card-payment processes such as authorization, settlement, cancellation and refunds, as well as synchronizing transaction status and handling exceptions.
Through the pilot, KB Kookmin Card plans to build technology and payment infrastructure in preparation for a future expansion of the stablecoin payments market.
