Fair Square Lab, Korea Digital Asset Custody (KDAC), and Programat, a Japanese digital finance platform company and blockchain technology company, announced on the 11th that they signed a strategic business agreement (MOU) to present a new paradigm in the international remittance and payment market. The three companies plan to jointly promote a PoC (proof of concept) project aimed at building a global remittance and payment system based on stablecoins.
Through this agreement, the three companies will combine blockchain technology and stablecoin technology to solve the limitations of the existing financial system and seek ways to lead innovation in the international remittance and payment system. Fair Square Lab CEO Kim Jun-hong said, “The international remittance and payment system that supports the global economy is in need of innovative changes, and the three companies are trying new methods to solve this.”
Programat has outstanding technical capabilities in issuing and operating stablecoins, and has expanded its ecosystem through cooperation with major financial institutions in Japan. Fair Square Lab is a company that has developed user-friendly financial solutions and token securities applications, and has proven its capabilities through cooperation projects with domestic financial institutions. Korea Digital Asset Trust is the largest virtual asset custody company in Korea, with institutional financial institutions such as NH Nonghyup Bank and Shinhan Bank as well as leading technology companies participating as shareholders. Kim Min-soo, CEO of Korea Digital Asset Trust, said, “Through this cooperation, we will present new possibilities in the international financial market and strengthen cooperation between Korea and Japan.”
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