Will stablecoin payments expand? Korbit's moves draw attention

Korbit initiates stablecoin payment experiment…connecting to 'Moneytree' for real-world use

▲ Korbit, Galaxia Moneytree to promote stablecoin-based payment business

Korbit, the nation's first virtual asset exchange, has officially embarked on expanding the payment market using stablecoins. Attempts to connect assets within the exchange to real-world consumption are gaining momentum.

Korbit announced on the 10th that it is partnering with Galaxia Moneytree, an electronic financial service provider, to jointly promote a stablecoin-based payment business. This collaboration is highly significant as it goes beyond a simple business alliance, premising actual service integration.

The two companies will combine Korbit's trading infrastructure with the 'Moneytree' app operated by Galaxia Moneytree to build a structure that expands virtual assets into real-life payment methods. The core is a stablecoin-based top-up-payment-settlement system.

Users will be able to top up Moneytree Cash using virtual assets held in their Korbit accounts and use it for payments at online and offline merchants. This structure transforms virtual assets from simple investment assets into practical means of consumption.

The division of roles is also clear. Korbit will be responsible for the overall asset flow, including payments and settlements, based on its virtual asset liquidity and trading infrastructure, while Galaxia Moneytree will manage the payment infrastructure and Moneytree Cash operations using its prepaid electronic payment instrument license.

The two companies plan to review service stability and operational systems through phased Proof-of-Concept (PoC) before pursuing commercialization within the scope of relevant laws and guidelines. Korbit stated, "This is a significant turning point where virtual assets expand beyond the investment realm into actual use," adding, "We will enhance user experience and continuously broaden the scope of utilization."

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*