Korea-Japan Stablecoin Payment Model in the Works

DSRV, a blockchain infrastructure company, has partnered with NICE Information & Telecommunication and SBI DigiTrust to develop a stablecoin remittance and payment model between South Korea and Japan.

The three companies will jointly examine a structure that uses stablecoins in QR-code payments by Japanese users at NICE Information & Telecommunication merchants in South Korea.

The review will cover the movement of payment funds from Japanese users to South Korean merchants, methods for issuing remittance and payment instructions, and commercial viability based on expected transaction volumes and costs.

DSRV will assess whether blockchain-based asset transfers can be connected to existing payment systems, while NICE Information & Telecommunication will evaluate operational requirements and business viability based on its domestic payments infrastructure and merchant network.

SBI DigiTrust will refine the remittance and payment structure based on Japanese regulations and its financial and digital-asset infrastructure.