Global virtual asset payment and stablecoin infrastructure company Moonpay has partnered with KB Kookmin Card to develop a service model that allows foreigners to make payments at domestic merchants using digital assets.
On October 6, Moonpay announced its collaboration with KB Kookmin Card in the field of digital asset-based payment services. The two companies plan to jointly explore payment solutions for foreign customers at domestic merchants and cross-border stablecoin payment models.
Initially, they will develop a service model that enables foreigners to use digital assets, including stablecoins, for payments at local merchants.
They will also work together to identify cross-border stablecoin payment models. By combining KB Kookmin Card's payment network with Moonpay's global digital asset technology and network, they aim to create an efficient structure for processing fund transfers and payments between countries.
To achieve this, the two companies will conduct a joint proof of concept (PoC). They plan to gradually verify the safety, convenience, interoperability, and business feasibility of the service by linking technology and payment infrastructure based on real payment environments.
Moonpay and KB Kookmin Card intend to refine their digital asset-based merchant payment and cross-border payment service models based on the PoC results and the domestic regulatory and payment environment.
Lee Boo-geon, co-founder and Asia representative of Moonpay, stated, "We will validate new possibilities for domestic payments by foreigners and cross-border payments by combining KB Kookmin Card's payment network with Moonpay's global digital asset infrastructure."
* This article has been translated by AI.
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