▲ A rendered image depicting stablecoins (Yonhap)

SEOUL, July 23 (Yonhap) -- South Korea's major platform operators have separately teamed up with Circle Internet Group Inc., the issuer of the USDC stablecoin, to cooperate in the establishment of digital asset infrastructure, companies taking part in the endeavor said Thursday.

Kakao Group, which operates the popular messenger app KakaoTalk, said it has signed a memorandum of understanding (MOU) with the U.S. stablecoin issuer to cooperate in the areas of payment infrastructure and digital asset technology.

The two sides will discover new business opportunities in various areas of digital finance, including won-based stablecoins and related services, Kakao said.

Money transfer app Toss, operated by Viva Republica and Toss Bank, the platform's online-only bank, also inked a strategic MOU with Circle to review partnership opportunities in payment infrastructure and stablecoin technology.

The two companies also seek to test the integration of payment systems using biometric authentication with stablecoin-based services, Toss said.

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