Korbit CEO Se-jin Oh (오세진) (left) and Galaxia Moneytree CEO Dong-hoon Shin (신동훈) pose for a photo at a business agreement ceremony held on April 9 at Galaxia Moneytree's headquarters in Seoul. [Photo: Korbit]

Korbit said on April 10 it will pursue a stablecoin-based payments business in cooperation with Galaxia Moneytree.

The companies will jointly push a project to expand digital assets into everyday payments by linking Korbit's digital asset trading infrastructure with the Moneytree app operated by Galaxia Moneytree.

The key to the project is building a structure that runs from top-ups to payments to settlement based on stablecoins. Users will be able to top up Moneytree cash using digital assets held at Korbit. Korbit expects this will create an environment in which those funds can be used for payments at online and offline merchants.

A Korbit official said, "This cooperation is an important attempt to expand digital assets beyond investment assets within an exchange into practical areas of use." The official added, "Based on stable trading infrastructure, we will enhance the user experience and continue to broaden the scope of digital asset use."

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#Korbit #Galaxia Moneytree #Moneytree #stablecoin
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