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

CoinFeed, June 24 - According to Thelec, KG Group's fintech subsidiary KG Financial has 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 its payment gateway KG Inicis' infrastructure and a network of approximately 220,000 merchants to accelerate the commercialization of stablecoin payments. Under the agreement, both parties will focus on developing a stablecoin payment and settlement system, advancing proof-of-concept for digital payment services, and integrating with existing regulated payment networks such as PG services and prepaid card platforms.