Circle Signs MOUs with Kakao Group and Toss Bank for Stablecoin Payment Rails

Circle signed two memoranda of understanding on Jul 23, 2026, with Kakao Group and Toss Bank to explore stablecoin payment rails in South Korea. The Kakao Group MOU covers USDC-based cross-border remittances and merchant settlement, linking Circle's blockchain infrastructure with Kakao Bank's financial services and Kakao's consumer platform. The Toss Bank MOU focuses on biometric payments, USDC-linked financial products, and bridging stablecoin infrastructure to traditional bank accounts.

Both agreements are exploratory, with no specific launch dates or stablecoin issuance models announced. The partnerships remain subject to regulatory assessment under South Korea's evolving digital asset framework. Financial terms were not disclosed.