BC Card files patent application for 'stablecoin payments', first in the industry

Technology to Determine the Number of Coins to Deduct for a Payment Amount

BC Card (CEO Choi Won-seok) has filed a patent application for core technology required to process stablecoin payments, the first in the industry. As the country's only payment processing specialist company, it aims to secure intellectual property related to blockchain-based payment infrastructure and swiftly respond to a new payment paradigm centered on digital assets.

This patent pertains to technology that determines the number of coins to be deducted from a customer's digital wallet during a stablecoin payment. It is based on the observation that even the same stablecoin can show slight price differences depending on listed quantities and trading volume on each exchange. The core is collecting and analyzing real-time price data to present customers with a reasonable and transparent settlement amount during transaction approval and balance deduction.

Given that stablecoins are widely used for cross-border remittances and payments, this patent technology is expected to be particularly useful when paying with Korean won-denominated stablecoins at overseas merchants or with foreign-currency stablecoins at domestic merchants.

President Choi Won-seok also participated in this patent application. From 2022 to 2024, President Choi directly filed six patents related to payment technologies linked to non-fungible tokens (NFTs), leading efforts to secure technology for advancing blockchain-based payment infrastructure. He explained, "This technology was designed with a focus on consumer benefits so that customers can pay with stablecoins more conveniently, moving away from a supplier-centered perspective."

Meanwhile, BC Card is strengthening collaboration with major financial firms, fintech companies, and virtual asset operators in line with domestic stablecoin legalization trends, and is focusing on building a universal stablecoin payment infrastructure.

It plans to connect its largest domestic merchant network with partner stablecoin services to help customers easily use stablecoin payments through familiar methods such as card or QR payments.

President Choi said, "Stablecoins are a powerful technological paradigm that can revolutionize existing payment processes," and added, "As a company with the country's largest payment infrastructure, BC Card will take the lead in creating an environment where stablecoin payment services can be used conveniently anytime and anywhere."