Circle Partners with Kakao Group and Toss on Korean Blockchain Push

Circle has signed memorandums of understanding (MOUs) with Kakao Group and Toss to explore connecting their blockchain infrastructure with Korean consumer platforms and financial services.

The agreements aim to assess opportunities for $USDC and Circle's global payment rails in areas such as stablecoin payments, cross-border remittances, merchant settlement, and tokenized financial services.

Circle has repeatedly ruled out issuing a Korean won stablecoin itself, instead focusing on providing the underlying technology that makes stablecoins run and a bridge between any future KRW token and the global liquidity of $USDC, which has a circulation pool of roughly $73 billion as of this week.