South Korean crypto companies are turning to foreign users to explore new stablecoin payment models.

CoinFeed reported on April 7th that South Korean cryptocurrency companies, facing delays in enacting the Digital Assets Basic Law, are turning their attention to foreign users, exploring new business models during the legal vacuum through early collaborations with international partners and infrastructure development. Hana Financial Group, in partnership with Circle and Crypto.com, announced on March 5th a pilot program for a stablecoin-based payment service, providing convenient payments for foreign tourists visiting South Korea. Led by Hana Card, the service allows overseas users to make purchases at South Korean merchants using cards linked to the stablecoin (USDC), and offers a 5% cashback bonus to foreign holders of Crypto.com Visa cards.