Circle teams with Kakao and Toss on stablecoin payments

Circle, the issuer of the USDC stablecoin, announced two separate partnerships with major South Korean technology and financial groups on July 23, 2026, as it expands its footprint in one of the world's most active digital asset markets. The company signed a strategic memorandum of understanding with Kakao Group and a separate agreement with fintech operator Viva Republica, which runs Toss and Toss Bank.

The agreement with Kakao Group involves its subsidiaries Kakao Pay and Kakao Bank. The companies plan to explore integrating Circle's blockchain and global payment infrastructure with Kakao's extensive consumer platforms, which include the ubiquitous messaging app KakaoTalk. The collaboration will focus on examining potential applications for won-backed stablecoins, including payment systems, cross-border remittances, merchant settlement, and tokenized financial services. Kakao Pay CEO Shin Won-keun, who leads the group's stablecoin task force, stated the companies would work to preemptively prepare a Korean digital asset ecosystem.

In a parallel move, Circle signed an MOU with Viva Republica and Toss Bank to assess opportunities for stablecoin-based payments. This partnership...