FairSquareLab, a digital asset infrastructure specialist, announced on the 16th that it has signed a strategic Memorandum of Understanding (MOU) with Axelar Foundation, a global cross-chain interoperability technology company, and KDAC, a digital asset custodian, to secure interoperability of multi-chain-based stablecoin infrastructure.
This collaboration aims to implement a stablecoin model that is scalable in a multi-chain environment while complying with regulatory frameworks by combining Axelar's cross-chain messaging and chain linking technology with KDAC's digital asset custody capabilities, with Fair Square Lab's Korean-style stablecoin financial infrastructure currently being built.
Fair Square Lab plans to design the financial infrastructure interconnectivity, regulatory compliance, and security required for stablecoin issuance, distribution, and settlement processes in line with domestic regulatory frameworks, while also establishing a structure that enables integration with global blockchains. In particular, the company is focusing on ensuring that key status data, such as payment approval information, account status changes, and distribution record management, can be processed safely and reliably across multiple chain environments.
Axelar provides a cross-chain interoperability infrastructure that cryptographically verifies and transmits data in a multi-chain environment. This technology is applied to a variety of use cases across global financial institutions and Web3 companies, supporting the reliable transmission of sensitive data, such as payment approvals and the exchange of KYC/AML information.
Drawing on its experience in digital asset custody for financial institutions and institutional investors, KDAC will strengthen the platform's stability by reviewing stablecoin custody and custody structures, asset management and verification systems, and potential integration with institutional custody infrastructure. This is expected to contribute to meeting regulatory standards and enhancing reliability required for the introduction of stablecoins in the banking sector.
Fair Square Lab has been conducting digital asset and payment-related demonstration projects for major domestic banks and public institutions, accumulating technology for regulatory-based issuance, transfer, and settlement systems.
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