South Korea's KG Group advances Solana-based digital asset payment network

ME News Report, June 24 (UTC+8), Korea's KG Group's financial technology subsidiary KG Financial signed a strategic cooperation memorandum with the Solana Foundation to jointly develop Web3-based digital asset payment infrastructure. The two parties have been discussing digital asset payments since April and have completed a joint proof-of-concept project covering stablecoin issuance and real payment services, confirming the technical and commercial feasibility of the business model. KG Group plans to integrate the infrastructure of its payment gateway KG Inicis and a network of approximately 220k merchants to accelerate the commercialization of stablecoin payments. According to the agreement, both parties will focus on developing stablecoin payment settlement systems, advancing digital payment service proof-of-concept, and integrating with existing regulated payment networks such as PG services and prepaid card platforms. Additionally, Solana posted on X platform that Korea's KG Inicis will soon introduce stablecoin payments on the Solana platform. This collaboration will use stablecoins as an online payment method, and future plans include launching a token-based merchant rewards program. (Source: PANews)
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