- Circle partnered with Kakao Group and Toss Bank.
- The companies will explore stablecoin-based payment infrastructure in South Korea.
- The move expands Circle's efforts to grow USDC adoption across Asia.
Circle has announced new partnerships with Kakao Group and Toss Bank as it continues expanding its stablecoin business in South Korea. The agreements will focus on exploring blockchain-based payment infrastructure and stablecoin settlement using USDC.
Kakao operates some of South Korea's largest digital services, including KakaoTalk, Kakao Pay, and KakaoBank, while Toss Bank has recently expanded into blockchain through a partnership with the Solana Foundation. Circle says the collaborations will explore how stablecoins can improve payment and financial infrastructure in the country.
The announcement builds on Circle's earlier partnerships with South Korea's largest crypto exchanges, Upbit and Bithumb. USDC currently has a circulating supply of approximately $74.4 billion, making it the world's second-largest stablecoin behind Tether's USDT.
