Technical Validation Utilizing Over 2 Million Domestic Offline QR Merchants
and 40,000 ATM Infrastructure
Business data platform company Kukon announced on November 14 that it recently signed a strategic business agreement with the Solana Foundation in Singapore to jointly develop a stablecoin-based payment solution and expand global payment infrastructure.
Kukon and Solana Foundation Singapore Business Agreement Ceremony. From the right, Kim Jonghyun, CEO of Kukon, and Lily Liu, Chairwoman of the Solana Foundation. Kukon
The two companies agreed to conduct a proof of concept (PoC) and implement products for stablecoin payment services using the Solana network, leveraging Kukon's domestic infrastructure of over 2 million offline QR merchants, about 100,000 major franchise stores, and approximately 40,000 ATMs nationwide.
During the PoC phase, they plan to verify stablecoin payment and withdrawal using the domestic QR payment network and ATM withdrawal network, validate partnership models with global payment companies linked to the Solana network, and explore the feasibility of cross-border payment services and the acquisition of operational expertise.
Kukon believes that this collaboration has positioned the company as a key partner for the foundation’s expansion into the Asian market. Kukon also plans to lead the expansion of partnerships with global payment companies and major stablecoin issuers in the future.
Kim Jonghyun, CEO of Kukon, said, "This will be an important milestone in verifying the potential of stablecoin payments by combining Kukon's payment infrastructure with Solana's blockchain technology," adding, "We will establish a new digital payment standard in Asia and the global market."
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