Squaretech signs MOU with GOAT Network for AI-based stablecoin payments

Squaretech announced Friday that it has signed an MOU with GOAT Network, a Bitcoin-based AI agent commerce infrastructure provider, to develop a stablecoin payment service in South Korea.

Under the agreement, the two companies will explore integrating AI agent technology into a stablecoin payment program being developed for foreign tourists. The service is being co-developed with Road System, a domestic mobile identity authentication company, and aims to let foreign tourists verify their identity using a mobile passport and pay at local merchants using dollar-based stablecoins.

Squaretech will handle domestic project development, merchant acquisition and regulatory compliance, while GOAT Network will provide its AI agent payment technology and network. DAC Labs, the infrastructure developer behind GOAT Network, will support technical integration, security review and network operations. The two companies are also exploring expanding their cooperation to cover digital gift cards and voucher purchases.

The companies also plan to deploy technology addressing security risks that could arise when AI agents execute payments on behalf of users. Each AI agent will be assigned an on-chain identity based on the ERC-8004 standard, with spending limits and user approval procedures set to allow transaction records to be verified.

The initial service is expected to use dollar-based stablecoins. The companies also plan to build the technical foundation to expand support to a Korean won stablecoin once relevant laws and regulations are established domestically.

"Through this collaboration, we will integrate global technology to fit the domestic payment environment and regulatory framework, and build a new payment ecosystem where AI and stablecoins can be used in everyday life," said Kim Kang-ho, CEO of Squaretech.

Kevin Liu, co-founder and CEO of GOAT Network, said AI agents are evolving to purchase products and services on behalf of users. "Through this collaboration, we will explore how the technology can be applied to real-world commerce in South Korea," he added.

Meanwhile, RN2 Technologies changed its name to Squaretech on Oct. 14 to reflect its expansion into new businesses. The company is also pursuing cooperation with Anchorage Digital of the United States on institutional digital asset infrastructure.