BC Card said on the 18th that it has filed, the first in the industry, for a patent on core technology needed to process stablecoin payments.
The patent concerns technology that determines the number of coins to be deducted from a customer's electronic wallet when paying with stablecoins, noting that even the same stablecoin can show slight price differences by exchange depending on listed supply and trading volume. It centers on collecting and analyzing real-time price data to determine the settlement amount for customers in a reasonable and transparent manner during transaction approval and balance deduction.
Chief Executive Choi Won-seok personally took part in this patent filing. Earlier, starting in 2022 through 2024, Choi personally filed six patents related to payment technology linked to NFTs, moving to secure a lead in technology for advancing blockchain-based payment infrastructure. Choi explained that a hallmark of this technology is that it was designed from a consumer-benefit perspective—moving away from the supplier's viewpoint—so customers can pay more conveniently with stablecoins.
BC Card plans to support convenient payments by consolidating the nation's largest merchant network it owns with partners' stablecoin services so customers can pay easily using familiar methods such as cards or QR payments.
Choi Won-seok, CEO of BC Card, said, "Stablecoins are a powerful technological paradigm that will transform existing payment processes," adding, "As a corporations equipped with the nation's largest payment infrastructure, BC Card will take the lead in creating an environment where stablecoin payment services can be used conveniently anywhere."