Gwangju Bank and Toss Pilot Stablecoin QR Payments in South Korea

The pilot program allowed users to bypass traditional payment bottlenecks by linking Gwangju Bank’s mobile application with Toss Place merchant terminals. During the test, customers scanned QR codes to transfer stablecoins directly from their digital wallets to merchants, with transaction confirmations appearing instantly within the bank’s interface. According to bank officials, the exercise verified the technical feasibility of using blockchain-based assets for routine retail purchases.

Building on this initial validation, the partners are now drafting a second phase to refine the user experience and minimize the steps required to finalize a purchase. While no commercial launch date has been set, discussions are underway to expand testing to local merchants in the Gwangju and Jeonnam regions. This initiative aligns with broader efforts by South Korean lenders—including KB Financial Group and Shinhan Financial Group—to explore stablecoin infrastructure for remittances and card settlements. These developments coincide with the Financial Services Commission’s planned review of second-stage digital asset legislation this November, which will address critical regulatory frameworks for stablecoin issuance and distribution.