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FollowingCircle signed payment infrastructure agreements with Kakao and Toss
Circle reached agreements with Kakao Group and Toss respectively to promote stablecoin payments deep into the South Korean market. Kakao will evaluate Korean won stablecoins, remittance and merchant settlement services;Toss will explore USDC payments, digital wallets and programmable on-chain transactions. All parties will study blockchain payment channels, digital asset connectivity and cross-border settlement. Circle has not yet launched specific products, but has used a memorandum to build a framework for technical testing as South Korea's stablecoin regulatory rules are gradually taking shape.
Circle stablecoin payments connects the Kakao platform to USDC
Kakao said it plans to connect Circle stablecoin payments to its extensive consumer and financial ecosystem, which includes KakaoTalk, Kakao Pay and KakaoBank. Both parties will evaluate payment, settlement and digital asset services that connect blockchain networks with existing financial systems. The cooperation also involves possible Korean won stablecoins and tokenized financial products. Kakao hopes to study overseas remittances, merchant settlements and faster global payment processing. Its platform can provide a large domestic user base for future services, but a specific launch date has not yet been announced. Kakao Pay leads the group's stablecoin working group. The company said the agreement could also provide infrastructure support to other South Korean companies. This strategy positions Circle as a technology and connectivity provider rather than a direct issuer of Korean won tokens.
Expansion of Circle stablecoin payments in South Korea's regulatory development
Toss and Toss Bank will explore the use of Circle stablecoin payments in wallets, banking and on-chain services respectively. Its work may include USDC payments, biometric tools and programmable transactions. Toss Bank will study the connections between stablecoin infrastructure, bank accounts and existing fiat payment networks. Compliance is also part of the planning effort. As regulators develop a broader framework, both sides will review security, risk control and anti-money laundering requirements. Toss Bank has partnered with the Solana Foundation on blockchain payments and offshore settlement infrastructure. Circle has been expanding its South Korean partnership in recent months. In April, it signed agreements with Upbit and Bithumb to support USDC adoption and other technology collaborations. These two exchanges typically account for more than 95% of South Korea's daily cryptocurrency trading volume. The latest Circle stablecoin payment protocol extends this strategy beyond exchanges. Kakao and Toss integrate payment, banking and consumer platforms, giving Circle access to different parts of South Korea's financial system. Circle said its preferred model is to connect the Korean won tool to the USDC for cross-border use. As of Thursday, USDC supply was approximately $74.4 billion, while Tether's USDT was approximately $184.3 billion. Any commercial launch in South Korea will still depend on product design, regulatory approval and final operating agreements.
