South Korea is advancing stablecoin-based payment pilots with international firms to serve visitors, keeping foreign interest alive despite recent regulatory headwinds. The move aims to simplify cross-border spending and test practical use cases for stablecoins in tourism and retail.
South Korea's NH NongHyup Bank has launched a proof-of-concept to pilot VAT refunds for inbound tourists using stablecoins on the Avalanche blockchain. The move aims to speed refunds, cut cash handling, and improve transaction traceability.