Solana Stablecoin Push Grows as KG Inicis Brings KRW 25T Network Onchain

KG Inicis and Solana partner to build stablecoin payments, linking a KRW 25T merchant network to onchain commerce in Korea.

South Korea’s KG Inicis has signed an MOU with the Solana Foundation. The agreement focuses on stablecoin payments for merchants.

KG Inicis is South Korea’s largest payment platform by merchant reach. It processes more than KRW 25 trillion in annual payments.

The company also connects to about 220,000 merchants through its payment gateway network. That gives the project a large base for payment testing.

The agreement follows talks between KG Financial and the Solana Foundation since April. Both sides also completed proof-of-concept work before moving ahead.

KG Inicis Moves Toward Solana Payments

KG Financial said the partnership will focus on stablecoin-based payment and settlement systems. The companies will also test digital payment services linked to Solana.

The earlier proof-of-concept work covered stablecoin issuance and real-world payment services. KG Financial said the tests confirmed commercial and technical feasibility.

As a result, the company decided to move forward with broader digital asset plans. KG Financial also plans to work closely with affiliate KG Inicis on the project.

Merchant Network Adds Scale to Stablecoin Plan

KG Inicis processes more than KRW 25 trillion in payments each year. Its merchant network gives Solana access to a large Korean payment channel.

The platform supports about 220,000 merchants through payment gateway services. Therefore, the project could move beyond testing if commercial rollout begins.

KG Group also has prepaid mobile payment capabilities within its wider business. These tools may support stablecoin payments across more consumer and merchant use cases.

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Solana Partnership Targets Onchain Commerce

Under the agreement, KG Financial and Solana Foundation will develop stablecoin payment systems. They will also work on settlement tools for merchant transactions.

The partnership will explore links with existing regulated payment networks. These include payment gateway services and prepaid card platforms already used in Korea.

KG Financial said it is reviewing ways to extend digital asset payments across its merchant network. 

This would allow more merchants to test stablecoin-based payment options.

The project adds to Solana’s payment activity in Asia, where stablecoin use continues to draw attention. 

It also places blockchain payments closer to everyday commerce through an established Korean payment platform.

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