Wemade Signs MOU With NICE Information & Telecommunication on Web3 Payment Infrastructure

Wemade said on May 20 that it signed a memorandum of understanding with NICE Information & Telecommunication to develop Web3 payment infrastructure.

The agreement calls for joint research and proof-of-concept testing to link blockchain-based digital asset payments with existing financial payment networks.

Under the memorandum, the companies will share information on stablecoins and blockchain payment technology and examine potential applications for tokenized assets such as real-world assets, or RWAs. They also plan to integrate Wemade's WEMIX token and the stablecoin USDC.e into NICE Information & Telecommunication's payment network, then run pilot tests to verify the feasibility of commercialization.

NICE Information & Telecommunication will also join GAKS, or the Global Alliance for KRW Stablecoin, a global consultative body for won-denominated stablecoins led by Wemade.

"NICE Information & Telecommunication has continuously reviewed ways to connect digital asset-based payments with the existing financial ecosystem," Kang Se-hyun, executive managing director of the company's stablecoin task force, said. "Through this agreement, we will verify the practical payment applications of Web3 technology and work to build a reliable next-generation payment environment."

Kim Seok-hwan, vice president of Wemade, said the company aims to produce meaningful results through sufficient review and testing with NICE Information & Telecommunication.