KSNet and the Solana Foundation have kicked off a project to test blockchain-powered payments within South Korea's financial system, focusing on integrating Solana Pay across KSNet’s merchant network. The pilot aims to verify if Solana Pay's infrastructure can work smoothly alongside traditional payment methods while complying with local AML rules.
The two companies signed a memorandum of understanding on July 30 to develop and test digital asset payment technology. This proof-of-concept includes AI-driven payments using the x402 protocol and connections to KSNet’s existing won settlement system, designed to reduce exchange-rate risks during blockchain settlements.
Rather than aiming to replace existing payment rails, KSNet and Solana plan to see how blockchain payments can coexist with South Korea’s regulated financial environment, ensuring AML controls and settlement support are in place before any commercial launch.
This content is for informational purposes and does not constitute financial advice.
