Hecto Financial Partners with Triple A on Stablecoin-Based Payment and Settlement

Fintech company Hecto Financial announced on February 5 that it will work with Singapore-based stablecoin payment company Triple A to build global payment and settlement services using stablecoins.

Choi Jongwon, CEO of Hecto Financial (left), and Barbier Eric, CEO of Triple A, are taking a commemorative photo. Hecto Financial

Triple A is a globally licensed financial institution that enables companies around the world to make payments and settlements in both stablecoins and local currencies, using stablecoins to improve inefficiencies in traditional cross-border payment and settlement processes. It currently provides payment services to around 20,000 corporate clients in more than 120 countries across Asia, Europe, and the Americas.

Under this agreement, the two companies plan to continuously pursue: joint review and discussion of cooperative models for stablecoin-based payment and settlement structures; joint exploration of business opportunities in the global cross-border payments market; and the establishment of a cooperative relationship to respond to rapidly changing global payment trends.

Hecto Financial plans to quickly internalize global payment and settlement services using stablecoins. In particular, it will offer stablecoin-based payment and settlement services to merchants with a high proportion of overseas transactions, broadening their choice of payment methods and enhancing payment efficiency. Based on its accumulated experience in operating global services and its overseas payment network, Triple A will support the expansion of stablecoin payments and settlements.

The two companies will actively share their respective financial infrastructure and service operation know-how and will jointly seek business planning and service expansion for next-generation payment and settlement methods, including stablecoins.

Choi Jongwon, CEO of Hecto Financial, said, "By connecting traditional payment and settlement infrastructure with new payment methods such as stablecoins, we will continuously strengthen our competitiveness in the global payments market," adding, "We aim to serve as a payment hub linking global platforms seeking to enter Korea with domestic merchants preparing to expand overseas."