PANews reported on May 17th that, according to Yonhap News Agency, KB Financial Group announced the completion of a proof-of-concept for all stages of its Korean Won stablecoin payment, settlement, and remittance processes. Partners included electronic payment company KG Inicis and Kaia blockchain and digital asset solutions company OpenAsset. This proof-of-concept is a comprehensive demonstration case that connects the entire financial service process—from the issuance of the Korean Won stablecoin to offline payments, merchant settlements, and international remittances—into a single process. Its key feature is the transition of the internal settlement structure to a blockchain-based system while maintaining customers' existing financial service usage methods. This actual payment model was implemented through offline self-service payment terminals at the Hollys coffee chain. Its architecture is designed so that when consumers can pay via QR code without installing a digital wallet, the settlement stage automatically executes a blockchain smart contract.

In addition, a new process has been implemented for overseas remittance verification: first, the Korean Won stablecoin is converted into a US Dollar stablecoin using Kaia's on-chain liquidity, and then the remittance is transferred to the actual bank account through a local partner in Vietnam. Unlike the existing SWIFT remittance method, which takes several days, the entire remittance process can be completed in just 3 minutes, and the transaction fee is reduced by approximately 87% compared to the previous method.