INX and Danal Sign MOU on Stablecoin Payment Infrastructure
IT DAILY ·
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Infinity Exchange Korea (INX) and Danal signed a business partnership agreement on the 2nd and held a ceremony to mark the agreement.
The partnership aims to combine stablecoin payment and settlement infrastructure by linking Danal's electronic finance licenses and merchant network with INX's VASP status and digital asset infrastructure.
The two companies will work together on AML/CFT obligations and plan to expand the scope of cooperation in line with the implementation of the Digital Asset Basic Act and AI agent-based payment and settlement automation.
Infinity Exchange Korea (INX) and Danal signed a business partnership agreement on the 2nd and held a ceremony to mark the agreement. The purpose of the partnership is to combine stablecoin-based payment and settlement infrastructure.
The collaboration links Danal's electronic finance licenses and merchant network with INX's VASP status and digital asset infrastructure. Danal holds electronic finance licenses, including the electronic payment gateway (PG) license and the license for issuing prepaid electronic payment means, as well as payment and VAN merchant networks, while INX holds virtual asset service provider (VASP) status and digital asset infrastructure.
Based on this combined structure, the two companies plan to create a stablecoin payment and settlement flow centered on integrating the service flows of the two regulatory licenses into a single service flow. The structure connects Danal's electronic finance business and merchant network with INX's VASP and digital asset infrastructure.
The scope of cooperation between the two companies covers the full range of anti-money laundering and counter-terrorism financing (AML/CFT) obligations. Specifically, they will work together on Travel Rule compliance, real-name verification, KYC and KYB, real-time transaction monitoring, and suspicious transaction reporting (STR). The photo shows INX CEO Lee Jae-gang and Danal Business Division Head Jin Chang-yong.
As Danal and INX begin this business partnership, the two CEOs described the collaboration as an opportunity to implement digital asset payments in line with institutional standards. Danal Business Division Head Jin Chang-yong said INX has digital asset-related licenses and know-how, and described the Danal-INX cooperation as a turning point for building a compliance-based digital asset payment ecosystem within South Korea's institutional framework. Lee Jae-gang, CEO of INX, said the partnership combines PG and VASP, and described it as a model for implementing digital asset payments on top of financial-sector-level compliance standards.
Danal plans to apply stablecoin payments to its own payment infrastructure and specialized services. Jin said Danal's payment infrastructure is unmatched, and that stablecoin payments will be rolled out sequentially to specialized services such as Konda. He also said the company aims to lead the next-generation digital asset payment market. From INX's side, the company said the pace at which businesses adapt to industry change varies by company, and explained that INX was designed with regulation in mind. It also stressed its policy of maintaining consistent financial standards at every stage.
The two companies later plan to expand services in line with the implementation of the Digital Asset Basic Act. They also have plans to promote AI agent-based automation of payment and settlement, and said they will expand the scope of cooperation in line with the law's implementation and technological advancement.
Source: IT DAILY · Kwon Young-seok
Original: https://www.itdaily.kr/news/articleView.html?idxno=241349
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Source: IT DAILY
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