[DigitalToday reporter Oh Sang-yup] Blockchain infrastructure firm DSRV will join hands with Nice Information & Telecommunication and Japan's SBI Group affiliate SBI Digital Trust to verify a Korea-Japan remittance and payment model using stablecoins.

DSRV said on Oct. 1 it signed a tripartite memorandum of understanding with Nice Information & Telecommunication and SBI Digital Trust on Sept. 30 at Nice Information & Telecommunication's headquarters in Yeongdeungpo-gu, Seoul.

The three companies will jointly verify technical feasibility and business viability, focusing on a scenario in which Japanese users pay via QR code at Nice Information & Telecommunication merchants in South Korea.

They plan to design a structure that uses stablecoins in the settlement process after a user makes a payment and the funds are settled to the Korean merchant. They will also review system integration methods and operating requirements for each company. The goal is to complete the verification by the end of December.

Key items to be verified include the structure by which payment funds move from Japanese users to Korean merchants, methods for remittance and payment instructions, and ways to link each company's systems. They will also examine business viability, considering additional technologies and functions needed for actual service implementation, as well as expected transaction volumes and costs.

The three companies plan to conduct the verification step by step, starting with what is currently possible while considering regulatory systems and policy trends in South Korea and Japan. They will then determine the feasibility of actual commercialization based on the results.

Seo Byeong-yoon (서병윤), co-CEO of DSRV, said cross-border remittances and payments are an area where the value of using stablecoins can be confirmed. "Through this agreement, we will make the Korea-Japan stablecoin remittance and payment model more concrete," he said.