Wemade has signed a memorandum of understanding (MOU) with BDACS Inc., Korea's largest digital asset custody firm, to jointly develop a stablecoin payment model and pursue business cooperation.
Under the agreement signed on the 21st, the two companies will collaborate to establish a commercially viable standard model for Korea's stablecoin payment business, Wemade said on the 22nd. As part of the initiative, they plan to integrate StableNet, a dedicated mainnet for won-pegged stablecoins developed by Wemade, with BDACS's corporate Custody Wallet.
StableNet is optimized for stablecoin issuance and operations. It resolves accounting complexity by allowing transaction fees to be paid in won-pegged stablecoins without a separate gas token. The mainnet directly supports financial regulatory solutions such as Know Your Customer (KYC) and Anti-Money Laundering (AML) at the infrastructure level. It is designed to protect financial information including transfer records while flexibly responding to audit requests from regulatory and tax authorities. It also maximizes financial convenience and efficiency by supporting verified accounts for priority processing for enterprise partners.
Through the agreement, BDACS will provide a custody environment with top-level security and accounting certifications, holding Virtual Asset Service Provider (VASP) qualification, Information Security Management System (ISMS) certification, global security certification (SOC 1 Type 2), and asset insurance. It will also enhance technical completeness by supporting institutional-grade asset data analysis and the integration of legally compliant money market fund (MMF) tokens.
The two companies will further jointly design a reserve management model and short-term operating architecture for custodied assets, and actively pursue proof-of-concept (PoC) use case development targeting financial institutions and the formation of a stablecoin consortium. They plan to designate each other as preferred partners when pursuing new businesses to lead the expansion of the domestic ecosystem.
"When BDACS's custody infrastructure is combined with Wemade's stablecoin network, a practical stablecoin payment model that financial institutions can trust and utilize will be created," said Ryu Hong-yeol, CEO of BDACS. "We will work together to set the standard for Korea's stablecoin market."
"This agreement will serve as an important opportunity to elevate Korea's stablecoin ecosystem by combining Wemade's blockchain technology with BDACS's institutional-grade custody capabilities," said Kim Seok-hwan, Vice President of Wemade. "Through the cooperation between the two companies, we will quickly bring a reliable stablecoin payment service to market."
Meanwhile, Wemade unveiled the StableNet testnet on January 30. Anyone can receive test tokens on the StableNet website and experience the StableNet ecosystem in the testnet environment.
