Wemade signed an MOU on April 21 with digital asset custodian BDACS to develop a stablecoin payment model and cooperate on business.

The two companies will link Wemade’s won stablecoin-only mainnet, StableNet, with BDACS’ “corporate custody wallet”. StableNet lets users pay transaction fees in won stablecoins without a gas token. It supports know-your-customer (KYC) and anti-money-laundering (AML) financial regulatory solutions at the infrastructure level. It is designed to protect financial information such as transfer records and to respond to audit requests from tax authorities.

BDACS provides a custody environment with virtual asset service provider (VASP) status, Information Security Management System certification (ISMS), global security certification (SOC 1 Type2) and asset insurance. It supports linking with money market fund (MMF) tokens.

The two companies plan to jointly design a reserve management model and an architecture for short-term operation of custody assets. They also plan to identify proof-of-concept (PoC) use cases for financial institutions and to form a stablecoin consortium.

Ryu Hong-yeol (류홍열), CEO of BDACS, said combining BDACS’ custody infrastructure with Wemade’s stablecoin network would create a stablecoin payment model that financial institutions can use. He added that the companies would build a domestic standard for the stablecoin market.

Kim Seok-hwan (김석환), vice president at Wemade, said the agreement would combine blockchain technology with BDACS’ custody capabilities and serve as an opportunity to advance the domestic stablecoin ecosystem. He said the company would introduce stablecoin payment services to the market.