Solana Expands into Korean Payments Market through KSNET Partnership

KSNET has partnered with Solana to integrate Solana Pay into its payment infrastructure, which serves over 330,000 merchants in South Korea. The partnership aims to develop a next-generation digital asset payment infrastructure and explore AI-powered payment models using the x402 protocol.

The integration will not replace existing payment rails but incorporate blockchain payments within KSNET's network. Compliance with anti-money laundering measures and adherence to South Korean financial regulations are key components of the project.

The firms also plan to integrate digital asset settlements in the current Korean Won settlement network, addressing issues related to exchange rate volatility and liquidity. CEO Park Hankook of KSNET emphasized that the company would leverage its experience in payments to provide a trustworthy digital asset payment system.