Korea's Exporters Set for Stablecoin Payments
Korean exporters are poised to benefit from a new business-to-business (B2B) payment system being developed by BDACS and Devall Co. The system will enable overseas buyers to pay Korean exporters in stablecoins, with the proceeds settled in won.
The companies plan to combine digital-asset infrastructure with accounts-receivable automation technology to enable stablecoins to be used for payment collection in commercial trade transactions. The system will connect the entire process in a one-stop structure, from invoice issuance and payment to settlement in won.
BDACS will provide stablecoin custody services, while Cheongguseu will handle invoice issuance, payment verification and reconciliation, and documentation such as electronic tax invoices. They are also considering linking payment and settlement data with companies' enterprise resource planning (ERP) systems to automate accounting processes.