KG Inicis signs MOU with Line Next for stablecoin-based global payment service

KG Inicis said Tuesday it has signed a memorandum of understanding with global Web3 company Line Next to cooperate on stablecoin-based global payment services.

The agreement aims to address the rapid growth of stablecoin payment services in global financial markets by combining Line Next's Web3 technology with KG Inicis's electronic payment infrastructure to identify new payment business opportunities.

Line Next develops and operates a range of global Web3 services, including Unifi Pay, a stablecoin-based payment solution. The company has been pursuing expansion of the global digital asset payment ecosystem through strategic partnerships.

Under the MOU, the two companies plan to pursue cooperation across four areas: collaboration on stablecoin payment services based on Unifi Pay technology, joint development of stablecoin payment projects, exploration of new business opportunities, and technology support and joint marketing.

KG Inicis will contribute its extensive domestic and international merchant network and experience operating stable payment infrastructure, while Line Next will accelerate service integration between the two companies using its Web3 technology centered on Unifi Pay.

Through the partnership, KG Inicis expects to significantly expand its existing electronic payment business into digital asset payments and lay the groundwork for commercializing stablecoin payment services. Line Next plans to broaden the reach of Unifi Pay technology and strengthen its business competitiveness by leveraging KG Inicis's payment infrastructure and merchant network, with both sides anticipating strong synergies.

"Stablecoins are drawing attention as a new payment method that can improve the efficiency and accessibility of the global payments market," said Myeong Jae-hyeon, executive director at KG Inicis, who led the agreement. "By organically linking Line Next's Web3 capabilities with our payment infrastructure, we expect to develop practically deployable payment services and secure an early position in the emerging stablecoin payment market."

Kim Woo-seok, chief strategy officer of Line Next, said the partnership would help expand the reach of Unifi Pay technology. "Based on the core strengths of both companies, we will provide a convenient stablecoin payment experience for both users and merchants, and contribute to the expansion of the global digital asset payment ecosystem," he said.

Meanwhile, Line Next is preparing to launch Unifi Pay, its stablecoin-based global payment infrastructure, in the third quarter of this year. The company has already begun accepting pre-registrations from developers worldwide ahead of the launch.