KG Inicis has signed a June 22 memorandum of understanding with the Solana Foundation to build a global digital asset payment model, putting Solana-based stablecoin payments into the Korean p
KG Inicis has signed a June 22 memorandum of understanding with the Solana Foundation to build a global digital asset payment model, putting Solana-based stablecoin payments into the Korean payment gateway’s next test phase.
The agreement was signed at KG Tower in Seoul and focuses on whether digital assets issued and circulated on Solana mainnet can be used in live payment structures. The first target is online stablecoin checkout, but the scope is broader than a simple crypto-pay button. KG Inicis plans to test general online payments, recurring subscription billing, and split-approval payments that divide one transaction across multiple businesses.
That structure makes the MOU more relevant to merchant settlement than a narrow consumer wallet integration. KG Inicis already operates one of Korea’s largest payment networks, with Crypto.com’s March partnership announcement describing the company as Korea’s number one integrated payment platform and saying its merchant network handles more than 400 million transactions a year.
The Solana project also includes tokenized merchant loyalty. KG Inicis plans to test a model where payment rewards from its merchant network can be issued as tokens and managed across participating businesses instead of remaining locked inside separate merchant programs.
That could make rewards more portable if the model clears technical, regulatory and business checks. Consumers would be able to use loyalty benefits across more of the KG Inicis merchant network, while merchants would gain a shared reward layer tied to payment activity. The company said the work will be used to review the commercial potential of Solana mainnet payments and tokenized loyalty once the legal framework is ready for business deployment.
The project fits into a wider Solana payments push in South Korea. Toss Bank recently partnered with Solana to test stablecoin remittance rails, while Solana’s payments strategy has also moved through remittance, settlement and institutional infrastructure. MoneyGram’s Solana validator launch added another payment-focused name to the network’s infrastructure layer.
Solana’s role in the KG Inicis agreement is built around speed, low fees and programmable settlement. The network’s payments tooling is aimed at stablecoin transfers, merchant checkout, recurring payments and settlement flows where transaction cost and confirmation speed can affect user experience.
KG Inicis framed the Solana tie-up as a way to test payment use cases that are difficult to run through traditional rails, including cross-border access to Korean online merchants and direct stablecoin settlement to overseas partners. The company said using digital assets as a payment method could reduce time and cost pressure when compared with bank-intermediated international settlement.
Solana’s institutional activity has also been expanding beyond pure payments. Baillie Gifford’s BAGEY tokenized fund launched on Solana with USDC settlement, adding another regulated asset example to the chain’s financial-infrastructure narrative.
KG Inicis said the Solana collaboration will proceed as a verification project for stablecoin payments and tokenized loyalty, with commercialization tied to the development of a suitable legal and business framework. The near-term focus is online checkout, subscription billing, split payments, merchant rewards and settlement testing across KG Inicis’ existing payment infrastructure.
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