Danal and UPC Partner to Advance Yen Stablecoin Payments Between Korea and Japan

Gate News message, April 23 — South Korean payment company Danal and Japanese payment specialist UPC (UNIVA Paycast) have established a strategic partnership to advance yen stablecoin payments and circulation, building a cross-border payment ecosystem.

The two companies will collaborate on developing yen stablecoin payment and distribution services while leveraging their respective payment infrastructure, networks, and UPC's local Japanese merchant network to expand the payment ecosystem across both countries. Specific initiatives include providing payment and charging services for tourists, enabling cross-border education fee payments, facilitating Korea-Japan e-commerce transactions, and improving Japan's trade remittance and settlement structures.

Danal has previously completed proof-of-concept (PoC) tests for won and USDC payments in collaboration with commercial banks. The company expects this partnership to enhance payment convenience for the growing number of Japanese tourists visiting Korea, while expanding Danal's stablecoin capabilities from won and USDC into the yen ecosystem.