Company explores cross-border payment and settlement models utilizing STO and stablecoin technologies
Global fintech platform company TokenAsia Korea has signed a strategic memorandum of understanding (MOU) with Japan-linked blockchain payment project UPCX to expand cooperation in digital payment and settlement infrastructure.
According to the company, the partnership is intended to support its “K-Silk Road Digital 2.0” strategy, which seeks to connect Korea’s manufacturing, content, healthcare and franchise industries with global digital settlement networks.
TokenAsia Korea said UPCX possesses blockchain-based payment technology capable of processing more than 100,000 transactions per second. The two companies plan to explore digital asset-based trade finance structures and global payment and settlement systems through the partnership.
Korea IT Times spoke with TokenAsia Korea CEO Jang Jae-hoon about the background of the agreement and the company’s future business direction.
Q: What is the primary goal of the “K-Silk Road Digital 2.0” strategy?
A: The main objective is to connect Korea’s real-economy sectors — including manufacturing, content, healthcare and franchises — with global digital payment and settlement networks. We are exploring ways to improve settlement and data flows through digital infrastructure beyond conventional export models.
Q: You described STOs and stablecoins as the “engine” and “fuel” of the strategy. What do you mean by that?
A: Security Token Offerings (STOs) can serve as a mechanism for linking real-world assets and content revenue structures with digital finance. Stablecoins, meanwhile, may help improve efficiency in cross-border payment and settlement processes.
Q: What kind of company is UPCX?
A: UPCX is known as a Singapore-based blockchain payment platform. According to the company, it is pursuing global payment infrastructure projects based on high-speed transaction processing technology while expanding business partnerships in Japan and other markets.
Q: How does your financial background contribute to this business?
A: I have worked in asset management and alternative investments for around 20 years. My experience includes ETF development, fund management and risk management at domestic and global financial firms. Currently, I am focused on integrating financial structuring expertise with blockchain-based real-world business models.
Q: What technological synergies do you expect from the partnership with UPCX?
A: We are reviewing multi-currency payment and settlement structures connecting the Korean won, Japanese yen and U.S. dollar. In the long term, we see potential for improving efficiency in cross-border settlement and foreign exchange processes.
Q: Could you explain the “Inbound Korea Pay” model targeting Japanese tourists?
A: It is designed to simplify payments for Japanese visitors purchasing Korean food products or K-content-related merchandise in Korea. The model is intended to enhance payment convenience while improving settlement efficiency for merchants.
Q: You are also pursuing expansion into North America. What stage is that in?
A: We are currently exploring opportunities with several Korean brands seeking entry into U.S. retail distribution channels. We are also reviewing digital finance structures aimed at improving settlement and cash flow management in those transactions.
Q: What is the significance of discussions with financial institutions in Brazil and Canada?
A: We are discussing potential cooperation with local financial institutions. The goal is to gradually examine ways to connect local account-based settlement systems with digital payment infrastructure.
Q: How could blockchain-based finance be utilized in the K-pop industry?
A: We are researching ways to connect content revenue structures and global fandom payment systems with digital finance technologies. However, commercialization will require further regulatory review and market validation.
Q: Is there potential for application in the healthcare sector as well?
A: Overseas healthcare markets involve complex licensing and settlement structures. We are reviewing ways to improve settlement stability for Korean companies operating globally through cooperation with financial institutions and healthcare organizations.
Q: Are you preparing a consortium related to stablecoin initiatives?
A: Rather than a structure centered on a single company, we are considering a collaborative model involving companies from distribution, finance and technology sectors. Regulatory compliance and risk management systems will be essential prerequisites.
Q: What is TokenAsia Korea’s long-term goal?
A: Our goal is to help Korean companies utilize more efficient digital settlement and financial infrastructure in global markets. We plan to gradually build systems that connect technology with the real economy.
Industry observers say blockchain-based financial technologies are increasingly being explored in the global payment and settlement market. However, since regulations surrounding STOs and stablecoins in Korea are still evolving, future business expansion is expected to depend heavily on regulatory review and discussions with financial authorities.
