HashKey, Kbank and BPMG Explore KRW Stablecoin Payments

Stablecoins are increasingly being explored by banks and blockchain firms as a way to cut the cost and settlement time of cross-border transfers. The partnership between HashKey Group, South Korean internet bank Kbank and blockchain company BPMG aims to link won-denominated digital assets with payments and regional trade, combining institutional reach, banking compliance expertise and blockchain infrastructure.

The three companies have signed a memorandum of understanding to jointly develop digital-asset business models and payment infrastructure. Their initial focus is the potential use of a KRW stablecoin for cross-border payments and regional trade settlement, with Kbank assessing regulatory and commercial feasibility and BPMG supporting implementation. As of July 23, 2026, the announcement had not disclosed an investment amount, launch date, pilot size or specific payment corridors, leaving the project at an exploratory stage.