On October 1, NBT (CEO Park Sookeun), a comprehensive points platform company, announced that it has signed a strategic memorandum of understanding (MOU) with OpenAsset, a blockchain fintech company pursuing a Korean won stablecoin issuance business. The main purpose of the agreement is to collaborate on new stablecoin business initiatives.
Through this agreement, NBT and OpenAsset will jointly conduct the following: verification of issuance and redemption of Korean won stablecoins in a test environment; experimentation with onboarding media companies and developing a universal reward model through tokenization of rewards; and a proof of concept (PoC) for building payment, settlement, and reconciliation processes. The two companies aim to accelerate the digital transformation of the reward and points ecosystem, seek to expand all-in-one infrastructure solutions such as brand token issuance, and establish a practical foundation to secure an early market advantage after regulatory frameworks are established.
OpenAsset is a blockchain fintech company specializing in digital asset-based technology and financial infrastructure, formed when the CBDC division of Kakao’s blockchain subsidiary GroundX became independent. The company focuses on issuing Korean won stablecoins and developing digital asset payment solutions. In particular, OpenAsset is building blockchain business models connected to the real economy through its experience with the Bank of Korea’s CBDC project and Korea Investment & Securities’ tokenized securities project. NBT explained that OpenAsset’s technological capabilities and financial network can play a crucial role in verifying the practical usability of stablecoins.
Starting with this agreement, NBT plans to gradually review the adoption of stablecoins in its core reward and points ecosystem business. Through the PoC with OpenAsset, NBT will verify whether stablecoins can be applied to actual user rewards and partner settlement structures, and based on this, aims to maximize the efficiency and scalability of its reward system.
The company stated that its ultimate goal is to address the structural limitations of existing points and reward systems-such as lack of interoperability between brands, conditional restrictions, and expiration-through stablecoin-based technology, and ultimately transition the entire reward infrastructure to a system centered on tokenization and smart contracts.
An NBT representative said, "The points and rewards market is the sector where stablecoin adoption can happen most rapidly. This agreement marks an important first step for NBT to become an all-in-one infrastructure provider. Together with OpenAsset, we will demonstrate that stablecoins can simultaneously improve user experience and operational efficiency for our partners."
According to Coinbase, a global cryptocurrency exchange and research institution, the global stablecoin market is projected to grow to approximately $1.2 trillion (about 1,695 trillion won) by 2028. The Bank for International Settlements (BIS) estimated the global stablecoin market capitalization at about $255 billion (about 360 trillion won) as of June this year.
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