[Edaily Reporter Kim Hyun-ah ] Electronic payment company KGINICIS CO.,LTD.(035600)is partnering with global Web3 firm LINE Next to target the stablecoin-based global payment market.

KGINICIS CO.,LTD. announced on the 11th that it signed a memorandum of understanding (MOU) with LINE Next on the 10th at KG Tower in Jung-gu, Seoul, for a “stablecoin-based global payment business.”

This agreement was initiated to develop new payment services by combining KGINICIS CO.,LTD.’s electronic payment infrastructure with LINE Next’s Web3 technology, amid the expanding market for stablecoin-based payments.

A stablecoin is a digital asset designed to be pegged to the value of fiat currencies such as the U.S. dollar. Unlike typical virtual assets, which are subject to high price volatility, stablecoins maintain relatively stable value. As a result, their use has recently expanded beyond trading into real-life financial areas such as international money transfers and payments.

Integrating Stablecoins into Payment Infrastructure

LINE Next develops and operates “Unifi Pay,” a stablecoin-based payment solution. Through this agreement, the two companies will develop stablecoin payment services based on Unifi Pay technology and explore new business opportunities.

They will also pursue collaboration in areas such as technical support and joint marketing.

KGINICIS CO.,LTD. will provide its domestic and international merchant network and electronic payment infrastructure operational capabilities, while LINE Next will provide Web3 technology centered on Unifi Pay. The two companies plan to identify payment models that can be commercially implemented by integrating existing payment infrastructure with blockchain technology.

For KGINICIS CO.,LTD., this agreement lays the groundwork for expanding its existing electronic payment (PG) business into digital asset payments. LINE Next, in turn, can leverage KGINICIS CO.,LTD.’s merchant network to broaden the scope of UniPay’s application.

A Foothold for Entering the Global Payment Market

Stablecoins are drawing particular attention for their potential applications in cross-border payments and remittances.

Existing international payments must pass through multiple financial institutions and payment networks, resulting in complex settlement processes that incur significant time and costs. In contrast, utilizing blockchain-based stablecoins can simplify transaction and settlement processes, potentially improving the efficiency of global payments.

This is why global financial and payment companies are moving to build stablecoin-based payment infrastructure. As the related market is expected to expand in Korea as well, collaboration between traditional payment providers and blockchain companies is on the rise.

Myeong Jae-hyun, Executive Vice President of KGINICIS CO.,LTD., said, “Stablecoins are gaining attention as a new payment method that can enhance the efficiency and accessibility of the global payments market,” adding, “By integrating LINE Next’s Web3 capabilities with our payment infrastructure, we will develop practical payment services and secure a leading position in this new market.”

Kim Woo-seok, Chief Strategy Officer (CSO) at LINE Next, said, “We expect to expand the scope of UniPay’s application through our collaboration with KGINICIS CO.,LTD.” He added, “We will provide a convenient stablecoin payment experience for both users and merchants and contribute to the expansion of the global digital asset payment ecosystem.”