KSNET, South Korea’s largest payment processor, signed a memorandum of understanding with the Solana Foundation on July 30 to integrate Solana Pay into its network of over 330,000 merchants. The company processes approximately $4 billion in monthly transaction volume, representing around 130 million transactions per month. This partnership will cover both online and offline payment experiences, with plans to develop a proof-of-concept for an AI-based payment model using x402 technology. This represents one of the largest real-world crypto payment integrations in Asia. South Korea’s Virtual Asset User Protection Act provides the regulatory framework for this expansion.
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