NH NongHyup Bank said April 22 it signed a strategic memorandum of understanding with NHN KCP to cooperate on building a stablecoin-based payment ecosystem.
The agreement is aimed at jointly reviewing next-generation payment models by combining artificial intelligence agent technology with digital payment infrastructure, the bank said.
Under the MOU, the two companies plan to co-design payment and settlement structures based on stablecoins and commercialize them in stages. They also plan to expand the ecosystem by linking merchant and platform networks and to improve interoperability by connecting with digital payment infrastructure in South Korea and overseas.
Stablecoins are cryptocurrencies designed to minimize price swings by pegging their value to real-world assets. They are widely seen as having potential as a next-generation payment method, and discussions have been spreading quickly in global markets as major economies including the European Union and the United States move to establish rules.
An NH NongHyup Bank official said the agreement is a starting point for proactively examining how stablecoins and AI can be used in real-world payments, adding that the bank will respond actively to changes in the future payments environment.
* This article has been translated by AI.
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