Korbit signs MOU with KG Financial… “Cooperation on digital-asset payment services”

Korbit, a domestic virtual-asset exchange, said on the 31st that it has signed a memorandum of understanding (MOU) with KG Financial (formerly KG Mobilians), an integrated payment services company, to build digital-asset payment services.

The MOU was arranged to establish linked services that allow digital assets to be used for everyday payments. Korbit plans to work with KG Financial to combine exchange services with card and payment gateway (PG)-based payment infrastructure to build a digital-asset payment ecosystem.

At the core of the cooperation is the establishment of a top-up and payment structure using digital assets. Korbit will be responsible for selling only the required amount of digital assets when holders pay at affiliated merchants using stablecoins and other digital assets. KG Financial plans to provide digital-asset payment services based on the Mobil Card application (app), which has about 800,000 members.

A Korbit official said, “The goal (of the cooperation) is to enable customers who use the exchange to utilize the digital assets they hold in a wider variety of ways,” adding, “Through this partnership, we will offer a new user experience (UX) that connects digital assets with everyday payments.”