Financial technology giant KSNet joins Solana Foundation to pilot Solana Pay in South Korea

KSNet cooperates with the Solana Foundation to test blockchain payment and AI trading systems

KSNet and the Solana Foundation have reached a cooperation to test blockchain payment and artificial intelligence-based trading systems in the Korean financial market.

Abstract

KSNet signed an agreement with the Solana Foundation to test blockchain-based payment infrastructure in South Korea.

Both parties will launch a proof-of-concept project covering Solana Pay integration and AI payment solutions using the x402 protocol.

KSNet plans to connect Solana Pay to its merchant network, incorporate anti-money laundering controls and support Korean won settlement.

This cooperation is a continuation of Solana's recent corporate payments plans in stablecoins, AI services and regulated financial infrastructure.

KSNet announced the signing of a memorandum of understanding with the Solana Foundation

KSNet announced on July 30 that it has signed a memorandum of understanding with the Solana Foundation, and the two parties will jointly develop the next generation digital asset payment infrastructure. The cooperation will start with a proof-of-concept project, focusing on Solana Pay and AI-driven payment technology.

The agreement combines KSNet's domestic payment network with Solana's blockchain infrastructure, and the two sides jointly evaluate digital asset payment solutions that can operate within South Korea's existing financial system. The first phase mainly focuses on technical verification rather than commercial deployment.

Solana Pay will be tested on KSNet merchant network

As part of its first proof-of-concept, KSNet said it will test Solana Pay's integration with the online and offline merchant payment network it has built over the past 26 years. The demonstration will verify whether Solana Pay's payment standards can work in South Korea's existing payment environment while maintaining compatibility with local merchant infrastructure.

Both parties also stated that compliance requirements will be included in the testing process. KSNet plans to incorporate anti-money laundering controls into payment systems to prevent unusual financial flows before commercial deployments are considered.

In addition, the proof of concept will connect blockchain-based settlement with KSNet's existing Korean won settlement network. According to the company, the structure aims to comply with domestic financial guidelines while reducing possible exchange rate fluctuations and liquidity risks during the digital asset settlement process.

The two sides are not trying to replace traditional payment tracks, but are testing how blockchain payments can work in conjunction with existing financial infrastructure under domestic regulatory requirements.

AI payment model will adopt x402 protocol

protocol focuses on artificial intelligence payments using x402 protocol. KSNet said it will evaluate the protocol and integrate it into an AI payment system that has been tested internally. The review will determine whether the technology is suitable for future payment services that rely on autonomous software agents.

The x402 protocol utilizes the HTP402 "Payment Required" status code to enable AI agents to automatically make small payments when accessing application programming interfaces or paid online services, without relying on traditional login methods or credit card authentication.

According to both parties, the machine-to-machine payment model requires rapid settlement of transactions while maintaining low processing costs. Existing card payment systems face long-term cost challenges when processing extremely small amounts because multiple intermediate links push up the overall rate structure.

Therefore, the proof-of-concept will test whether blockchain infrastructure can more efficiently support these payment models while remaining compatible with existing financial systems.

KSNet CEO Park Han-han said the company plans to rely on its payment and settlement experience to provide users with a secure payment infrastructure. After the technical verification is completed, KSNet and the Solana Foundation stated that they will gradually explore commercial models suitable for the Korean financial market.

Solana continues to promote payment partnerships

The cooperation with KSNet has further enriched the Solana Foundation's recent corporate payment initiatives in the financial services sector. Earlier this month, the Solana Foundation partnered with SBI Holdings to form SBI Solana Global, a venture capital firm focusing on Japan's regulated chain financial infrastructure. According to both parties, the project includes yen-backed stablecoins, tokenized financial products, institutional settlement services, cross-border payments and AI-related payment applications.

South Korea has also become part of Solana's payment strategy. In April this year, Shinhanka announced a proof of concept with the Solana Foundation to test stablecoin payments on the Solana test website. According to Sinhanka, the pilot project evaluated transaction performance, unmanaged wallet security and blockchain payment infrastructure, while also studying hybrid financial services that combine traditional payment systems with decentralized finance.

Artificial intelligence has become another development area for the blockchain network. Earlier this month, the Solana Foundation and Google Cloud launched Pay.sh, a payment gateway that allows AI agents to purchase application interface access using stablecoins on Solana. According to both parties, the platform supports on-request payment for Google cloud services, including Gemini, BigQuery and Vertex AI, without the need for traditional API subscriptions.

Enterprise adoption has also expanded into corporate finance. On July 22, Ramp launched Solana-based stablecoin accounts that allow companies to hold USDC and USDT, manage treasury balances, and make cross-border payments through a single financial workflow. Ramp said that more than 70% of stablecoin payments on its platform occur outside traditional banking hours, indicating the continued need for round-the-clock settlement.

Consumer payments products are also integrated into Solana's infrastructure. Last year, Gemini launched the Solana version of the credit card, which will automatically pledge SOL rewards earned from purchases, allowing users to participate in online verification and receive pledge rewards through the Gemini platform. Prior to the launch of the card, the exchange already supported USDC and USDT transfers on Solana, which Gemini said was due to the network's low fees and fast settlement times.