TechFlow News, March 31: According to The Block, KB Kookmin Card, a major South Korean credit card company, announced on March 31 that it will collaborate with Avalanche to build a hybrid stablecoin payment model on the Avalanche public blockchain. KB Kookmin Card will jointly develop a comprehensive stablecoin system—including top-up, payment, and settlement functions—with OpenAsset, a digital asset infrastructure company.
The system will preserve the familiar user experience and rewards points benefits of traditional credit cards, thereby lowering the barrier to entry for users adopting stablecoins and digital assets. Notably, the system will first deduct payments from the stablecoin balance in the user’s linked digital wallet; if the wallet balance is insufficient, the remaining amount will be automatically charged to the user’s credit card. Earlier this year, in January, KB Card disclosed that it had filed a patent application for a hybrid payment system that connects existing credit cards with digital wallets.
