Shinhan Card of South Korea collaborates with Dunamu to launch an offline token payment pilot

According to a report by the Korean News Agency, South Korean credit card company Shinhan Card announced that it will collaborate with Upbit's parent company Dunamu to launch a pilot program for token payments based on GIWA Chain in the South Korean credit card industry for the first time. The testing will take place at Shinhan Card's headquarters, where employees will receive tokens issued by Shinhan Card through the GIWA Wallet and complete payments by scanning a QR code.

The system uses on-chain identity verification technology Dojang to verify employee identities, allowing only pre-registered wallets to participate in transactions. Shinhan Card stated that it plans to promote commercialization after the relevant legislation is completed and gradually expand the access scope for merchants and the global blockchain network.