Points of Focus

• KG Financial signed a Solana partnership after stablecoin payment tests were conducted since April.
• KG Inicis plans to tap its network of 220,000 merchants to expand digital asset payments.
• Solana said KG Inicis processes more than 25 trillion won in annual transaction volume.

KG Inicis is preparing to introduce stablecoin payments to a network of roughly 220,000 merchants after affiliate KG Financial signed a strategic memorandum of understanding with the Solana Foundation, linking Solana’s payment infrastructure to one of South Korea’s largest online commerce networks.

The agreement follows several months of discussions and pilot testing that began in April 2026. According to KG Financial, the companies completed proof-of-concept projects covering stablecoin issuance and real-world payment services before deciding to formalize the partnership. The company said those trials demonstrated both the technical feasibility and commercial viability of the proposed payment model.

The agreement comes as Korean financial firms expand blockchain payment trials. Toss Bank signed its own memorandum with the Solana Foundation on June 19 to test stablecoin-based remittances for its 15 million customers, while South Korean policymakers work on legislation that would permit won-backed stablecoin issuance.

BREAKING: Korea’s KG Inicis is set to bring stablecoin payments to Solana.

South Korea’s largest payment platform moves over KRW 25 trillion a year. Now it’s putting stablecoins to work as an online payment method, with token-based merchant rewards to follow. pic.twitter.com/tz3fkioRqo

— Solana (@solana) June 23, 2026

KG Inicis plans stablecoin rollout across merchant network

KG Group plans to use KG Inicis’ existing payment rails and merchant relationships to expand the service. Solana said KG Inicis handles more than 25 trillion Korean won, or about $18 billion, in annual transaction volume through its payment gateway business.

Rather than building a separate crypto-focused network, the companies plan to connect stablecoin payments with existing regulated services, including payment gateway operations and prepaid payment platforms. KG Financial said it was reviewing ways to expand digital asset payment capabilities throughout its broader merchant ecosystem.

The agreement also covers the development of stablecoin settlement systems and additional digital payment pilots. Solana said token-based merchant rewards are expected to follow, though neither company disclosed details on how such incentives would operate.

Solana deepens ties with Korean payment firms

The partnership arrives days after Toss Bank announced its own collaboration with the Solana Foundation to test stablecoin-based remittances for its 15 million customers. That initiative focuses on international transfers, while KG Inicis is targeting domestic commerce through merchants already using conventional payment rails.

The project remains in an early phase, and neither company has announced a launch date, identified which stablecoins may be supported, or disclosed how many merchants could participate in an initial rollout.

KG Financial said the next stage of development will focus on stablecoin settlement systems, additional payment pilots, and links with existing payment gateways and prepaid services tested since April 2026.