[DigitalToday reporter Ji-young Lee] Danal is joining hands with virtual asset service provider (VASP) Infinity Exchange Korea (INX) to build digital asset-based payment and settlement infrastructure, including stablecoins.

Danal said on Tuesday it signed a memorandum of understanding (MOU) with INX to combine digital asset-based payment and settlement infrastructure such as stablecoins.

The two companies plan to link INX’s VASP infrastructure and digital asset API solutions with Danal’s payment gateway (PG) and its infrastructure for issuing and managing prepaid electronic payment instruments.

Specifically, they will push in stages stablecoin payment integration for Danal merchants, payments and remittances for foreign visitors and international students, and T+0 real-time settlement for merchants using a digital asset settlement network.

They will also cooperate in software-as-a-service (SaaS) offerings for customer identification (KYC), business customer identification (KYB) and anti-money laundering (AML) using INX’s compliance engine.

Danal will also seek to link with its recently introduced prepaid card for foreign visitors, K.ONDA. The plan is to connect Danal’s merchant payment network with INX’s digital asset infrastructure to expand payment services for foreign tourists and residents staying in South Korea.

The companies plan to apply AML frameworks to related services, including the travel rule, real-name verification, KYC and KYB, real-time transaction monitoring and a fraud detection system (FDS). They will also link institutional-grade custody and on-chain screening infrastructure.

They plan to expand cooperation to include applying for an innovative financial service designation with the Financial Services Commission, developing services in line with related regulatory changes, and AI agent-based automation of payment and settlement.

Jin Chang-yong (진창용), Danal’s business chief, said the company plans to incorporate stablecoin payments in stages into Danal’s payment infrastructure and specialised services such as K.ONDA.

Lee Jae-kang (이재강), CEO of INX, said the core of the cooperation is to implement a compliance-based digital asset payment and settlement structure by combining a PG and a VASP. He said the companies will pursue building settlement infrastructure that can be used by financial institutions, payment firms and fintech companies.