Circle partners with Kakao, Toss on South Korea stablecoin push

Circle has signed separate memorandums of understanding with Kakao Group and South Korean fintech operator Toss to explore stablecoin payments, blockchain settlement and digital asset infrastructure in South Korea. Summary Circle signed agreements with Kakao Group and Toss to explore stablecoin payment infrastructure in Korea. Kakao plans to assess KRW stablecoins, remittances and merchant settlement using Circle’s blockchain payment technology. Toss will explore USDC-based services, digital wallets and programmable payments while regulations continue developing nationwide. The agreements bring Circle’s USDC and payment technology into discussions with some of Korea’s largest consumer finance platforms. Kakao, Kakao Pay and Kakao Bank will study opportunities around KRW-based digital assets, cross-border payments and tokenized financial services. Toss and Toss Bank will examine similar uses, including digital wallets, overseas payments and programmable onchain transactions. Kakao Group said its agreement with Circle will combine the KakaoTalk-centered platform ecosystem with Kakao Pay’s payment services, Kakao Bank’s banking capabilities and Circle’s blockchain infrastructure. The ...