Nexters announced on August 18 that it has signed a strategic memorandum of understanding (MOU) with the Korean won stablecoin KRWQ.
As part of this agreement, KRWQ will be used for payments in artificial intelligence (AI) and global gaming services offered by OneStore. Following its acquisition of OneStore, Nexters has secured the distribution and payment infrastructure that was previously lacking in its blockchain gaming platform, connecting KRWQ as a payment and settlement option alongside the existing dollar-linked ONEUSD. This move aims to diversify the on-chain payment system of the global OneStore.
Nexters stated, "This is the first case of applying on-chain payments and settlements in Korean won for global content, and we expect it to be a frontier for the global use of the Korean won stablecoin."
The company plans to introduce KRWQ as a payment currency through ONEpay, providing a Korean won payment option on the global OneStore. KRWQ will also be used as a settlement currency, allowing developers and publishers on the global OneStore to choose it as a payment method, thereby expanding their options alongside existing currencies.
In terms of liquidity, Nexters is considering introducing trading pairs that allow KRWQ to be exchanged with ONEUSD or ONE within OneChain. The company also plans to support distribution by integrating wallets, apps, and mini-apps linked to KRWQ into the global OneStore.
KRWQ is a stablecoin that is pegged 1:1 to the Korean won. It was jointly developed by the stablecoin protocol Frax and the blockchain and AI project IQ, and issued by BrainPower Labs last year. The collateral assets are maintained at over 100% of the issued amount, with real-time issuance and reserve verification results made public. In June, it became the first Korean won stablecoin to implement Chainlink's Proof of Reserve.
Dave Shin, COO of KRWQ, remarked, "Gaming and digital content are areas where the Korean won is most actively used, and OneStore serves as a gateway to expand that demand globally." He explained that once KRWQ is integrated into OneChain and ONEpay, developers will be able to handle pricing, payments, and settlements in Korean won on-chain while verifying reserves in real-time.
Jang Hyun-guk, CEO of Nexters, emphasized, "The application of KRWQ in global AI gaming payments will provide a practical answer regarding the usability of the Korean won stablecoin."
Meanwhile, Nexters has restructured its ecosystem under the 'ONE' brand following its acquisition of OneStore. OneStore boasts 38 million embedded wallets and an online transaction volume exceeding 800 billion won.
As a result, the mainnet CROSS has been renamed to OneChain, the native token CROSS to ONE, and the common transaction medium in the ecosystem to ONEUSD.
The company is also accelerating the development of an AI and blockchain gaming platform. Recently, it launched an 'AI Games' tab within OneStore, allowing AI-generated games to start services in the OneStore ecosystem. Additionally, it has integrated the embedded wallet 'ONEpocket' into the OneStore app.
Nexters plans to launch the global OneStore, branded as OneBuild, simultaneously in 124 countries, marking the beginning of its global store and gaming platform operations.
* This article has been translated by AI.
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