Wemade is joining hands with NICE Information & Telecommunication to build a next-generation payment infrastructure linking digital assets with offline payment ecosystems.

Wemade said on May 20 it signed a memorandum of understanding with NICE Information & Telecommunication to build Web3 payment infrastructure.

The agreement aims to research and build payment infrastructure that merges Web3 with legacy finance. The two companies plan to combine their technology and know-how and proceed in stages with joint research, advance preparations and pilot tests to link the Web3 sector with offline payment ecosystems.

The cooperation items under review include sharing information on stablecoins and blockchain payment technology and exploring how to use tokenised assets such as real-world assets (RWA). They plan to focus on testing ways to actually link Wemade’s digital assets WEMIX and USDC.e to NICE Information & Telecommunication’s payment network to verify commercialisation potential. USDC.e is a stablecoin that enables use of the ethereum-based stablecoin USDC on the WEMIX 3.0 mainnet.

NICE Information & Telecommunication will also join the global alliance for a won-based stablecoin led by Wemade, called GAKS. Through the alliance, it plans to share rapidly changing regulatory trends related to digital assets and discuss joint response measures with major global blockchain and fintech companies including Chainalysis, CertiK, Chainlink Labs and SentBe.

Kang Se-hyun (강세현), an executive director at NICE Information & Telecommunication’s stablecoin TFT, said the company has continuously reviewed ways for digital asset-based payments to link harmoniously with the existing financial ecosystem based on long-standing experience and stability in operating payment infrastructure. He said the agreement will help verify the practical potential of Web3 technology for payments from various perspectives and build a next-generation payment environment trusted by both users and merchants.

Kim Seok-hwan (김석환), a vice president at Wemade, said the agreement started from the intent to consider together how Web3 technology can naturally meet the existing financial environment. He said the company aims to produce meaningful results step by step through sufficient review and testing with NICE Information & Telecommunication, a trusted partner.