Solana Expands Real-World Payments with KSNET Partnership

South Korean payment processor KSNET has partnered with the Solana Foundation to develop a next-generation digital asset payment infrastructure.

The partnership will integrate Solana Pay into KSNET's merchant network, which serves over 330,000 merchants and processes around 130 million transactions each month, amounting to nearly $4 billion in monthly payment volume.

The initiative aims to incorporate blockchain payments within the existing network of merchants at KSNET while ensuring compliance with South Korea's financial regulations.

KSNET will leverage its experience in payments to provide a trustworthy digital asset payment system, and the firms also intend to integrate digital asset settlements in the current Korean Won settlement network to address exchange rate volatility and liquidity issues.