South Korea's biggest payment company just chose Solana. KG Inicis signed a deal with the Solana Foundation on June 22 at KG Tower in Seoul. The goal is simple: bring stablecoin payments into KG Inicis's existing checkout system.
KG Inicis handles 40% of South Korea's online payment market and processes over 400 million transactions every year. That's real scale — not a small pilot. KG Financial also signed a separate agreement with the Solana Foundation on the same day. Both sides tested the idea for months before signing, and tests worked.
What KG Inicis Plans to Build
The planned features include stablecoin checkout for online purchases, recurring subscription payments, split payments across multiple merchants in one transaction, and token-based rewards for merchants. KG Group works with about 220,000 merchants across the country.
Why Korea Keeps Choosing Solana
This is the third Korean deal in two months. Toss Bank signed its own Solana agreement days earlier — its 15 million users are now testing stablecoin transfers for overseas payments inside the banking app. Before Toss Bank, Shinhan Card ran a test with Solana back in April.
South Korean lawmakers are drafting the Digital Asset Basic Act. Rules are coming. Companies aren't waiting — they're getting ready early.
Solana's Stablecoin Position by the Numbers
Solana holds $15.21 billion in stablecoins on its network, with USDC making up about 48% of that. That's nearly 5% of the entire global stablecoin market ($309 billion). The KG Inicis deal adds fuel to this fast-growing activity.
MoneyGram and Western Union already run on Solana. This chain isn't just for crypto trading anymore.
Watch for KG Inicis to announce a merchant pilot date. Based on the June MOU, a public launch in Q3 or Q4 2026 is realistic.