LINE NEXT, Eximbay Sign MOU on Global Digital Asset Payments
Summary
- LINE NEXT and Eximbay said they signed a memorandum of understanding to expand global digital asset payments and payout services.
- The companies said they plan to combine Unipay Pay technology with Eximbay's payment system to expand online and offline payment networks linked to country-specific stablecoins.
- The companies said they will gradually review stablecoin-based global payout services and digital tax refund businesses, with the aim of helping lead a new standard in the global payments market.
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LINE NEXT said on Aug. 6 that it signed a memorandum of understanding with Eximbay, a cross-border payments company, to expand global digital-asset payment and payout services.
The companies plan to combine their infrastructure to broaden the digital-asset payments and payout ecosystem. LINE NEXT will provide the technology environment, while Eximbay will build the payment system and connect partners.
The partnership will apply LINE NEXT's Unipay Pay technology to Eximbay's merchant network and link country-specific stablecoins to expand online and offline payment rails. The companies also plan to gradually explore new businesses targeting the global stablecoin-based payout market, as well as digital tax refund services.
Kim Woo-seok, chief strategy officer at LINE NEXT, said the partnership lays the groundwork for the two companies to move into new areas of digital-asset payments and payouts by combining their infrastructure and technological capabilities. He added that he expects the companies to help set a new standard for stablecoin use in the global payments market.
Uk Jin
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