KB Kookmin Card will build a hybrid stablecoin payment model with blockchain platform Avalanche, The Block reported on March 31.
KB Kookmin Card plans to design a card payment model based on the Avalanche public blockchain. It will work with digital asset infrastructure company OpenAsset to develop a comprehensive stablecoin system covering top-ups, payments and settlement.
The hybrid payment system KB Kookmin Card is developing is designed to keep existing credit card user experience and benefits such as points accrual. It is focused on lowering barriers to stablecoins and digital assets.
When a payment is made, the stablecoin balance in a digital wallet linked to the credit card is automatically used first. If the balance is insufficient, the remaining amount is billed to the credit card.
Chi-gyu Hwang
delight@d-today.co.kr