Circle Teams Up with Kakao and Toss for USDC Expansion in South Korea
Circle has signed memorandums of understanding (MOUs) with Kakao Group and Toss to expand blockchain-based payment infrastructure in South Korea. The agreements will explore opportunities for USDC across payments, settlements, and digital asset connectivity.
The partnership with Kakao covers the entire Kakao Group, including Kakao Pay, which serves over 40 million registered users. This extensive customer base could provide Circle with significant exposure if future USDC-based services receive regulatory approval.
In addition to exploring blockchain payment infrastructure and stablecoin technology, Circle and Toss will examine programmable payments using blockchain tech, biometric authentication for USDC transactions, and stablecoin-powered overseas remittances. Toss Bank will also evaluate connections between Circle's infrastructure and traditional bank settlement systems to improve the speed and efficiency of international payments.