KB Kookmin Card introduces hybrid stablecoin payment model

KB Kookmin Card is launching a hybrid payment model with Avalanche and OpenAsset, enabling stablecoin payments by linking a stablecoin wallet to its cards.

KB Kookmin Card has announced plans to accelerate the rollout of a hybrid payment model that integrates stablecoins with its card payment infrastructure. This initiative is in collaboration with the global mainnet Avalanche and public blockchain company OpenAsset. The company has developed a card payment model that leverages its proprietary network structure, utilizing Avalanche and public blockchain technology. Together with OpenAsset, KB Kookmin Card has established a process that supports stablecoin top-up, payment, and settlement, all powered by digital asset infrastructure. This innovative model enables users to link a stablecoin wallet to their card, allowing them to choose between traditional credit payments and digital asset-based payments with a single card. The system is designed for scalability, taking into account future regulatory and market developments, and can be applied to various processes including payment, top-up, and settlement.