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🇰🇷 South Korea /Environment & Climate

BEATOZ partners with Danal to build stablecoin payments and settlement ecosystem

From Dong-A Ilbo · () Korean

Translated from Korean and summarized by DistantNews. Read the original for the full story.

At a glance

News Official statement New plan
  • BEATOZ and Danal signed a memorandum of understanding to develop stablecoin and other digital asset payment and settlement services.
  • The companies will combine BEATOZ’s Crypto Payment Gateway with Danal’s payment infrastructure and work together from service planning through proof-of-concept testing and commercialization.
  • They also plan to develop business models and standard interfaces and build infrastructure involving financial institutions and merchants.

BEATOZ is moving to bring stablecoin payments out of the blockchain sector and into everyday transactions through a new partnership with payment platform Danal.

The two companies signed a memorandum of understanding on the commercialization of payment and settlement services using stablecoins and other digital assets. Their plan combines BEATOZ’s blockchain technology and Crypto Payment Gateway, or CPG, solutions with Danal’s existing payment infrastructure.

We will create a convenient digital asset payment environment.

· Danal representativeDanal’s stated goal for the partnership.

The partnership covers the entire process, from designing services and conducting proof-of-concept tests to pursuing commercial rollout. The companies will cooperate in four main areas. They will work to build an ecosystem covering the issuance, distribution, payment and settlement of digital assets, while linking Danal’s payment gateway system with BEATOZ’s CPG for testing.

They will also jointly study revenue models and standard interfaces. In addition, they plan to establish cooperation structures and infrastructure that can involve financial institutions and merchants. A Danal representative said the company aims to create a convenient environment for digital asset payments. BEATOZ described the agreement as an important foundation for testing the technology in real-world commerce.

This has established an important foundation for technical verification in real-world commerce.

· BEATOZ representativeBEATOZ’s assessment of the agreement.
About this summary

Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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