Lambda256, a blockchain specialist and subsidiary of Dunamu, has confirmed the feasibility of building stablecoin payment infrastructure with the card industry. The company validated a technical structure that can connect a blockchain-based transaction environment while maintaining the existing card payment system. It presented a way for card companies to respond to a stablecoin payment environment without directly operating the related technology.
Lambda256 said on the 24th that it had completed the "Card Industry Stablecoin Joint Proof of Concept (PoC)," pursued together with the Credit Finance Association and nine card companies. The validation was conducted to confirm whether card companies could connect their existing payment infrastructure, such as members, merchants, approvals, and settlement, with a blockchain environment.
The scope of validation covered the entire card industry payment and settlement process. It examined major procedures ranging from the issuance and distribution of stablecoins to payment approval, cancellation and refund, and settlement. In addition, it confirmed the feasibility of applying policy support funds and card points, as well as on-chain-based anti-money laundering (AML) and fraud detection systems (FDS).
Lambda256 took charge of the technical implementation connecting card company systems with blockchain networks. It utilized its self-developed digital asset orchestration platform "SCOPE" and on-chain compliance platform "CLAIR."
The company implemented a transaction processing system needed for blockchain transaction creation and transmission, fee handling, and transaction status tracking, along with the payment cancellation, refund, and settlement processes. It also improved integration functions that account for differences among card company systems, confirming that a setup tailored to each individual card company's environment is possible.
In this validation, card companies maintained their existing business operation roles, such as providing payment methods, configuring user screens, approving payments, and determining settlement policies. Lambda256 handled blockchain-based transaction execution and technical structure design, establishing a structure in which card companies can participate in a stablecoin payment environment without directly operating complex blockchain technology.
Chung Eui-jung, CEO of Lambda256, said, "Through this PoC, we have reduced the technical uncertainty needed for the card industry to enter the stablecoin payment and settlement fields." He added, "We will continue to provide technical support so that card companies can expand their role in the stablecoin legislation process in line with future institutional changes."
