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MoonPay, a global virtual asset payment and stablecoin infrastructure company, announced on the 30th that it has signed a business agreement (MOU) with Woori Bank to establish a Korean Won stablecoin infrastructure.
Through this agreement, both companies plan to discuss the global applicability of Korean Won stablecoins and cooperation methods in the remittance and payment sectors. MoonPay will serve as an infrastructure partner for coin distribution, cross-border settlement, and wallet integration.
MoonPay explained that its stablecoin infrastructure is a 'white-labeling' platform that supports institutions, fintech companies, and general enterprises to issue and operate their own stablecoins.
Lee Boo-gun, Head of MoonPay Asia, stated, "We will support Korean Won stablecoins to not only be trusted domestically but also to become a truly usable and interoperable payment and settlement method in the global market."
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