Toss Completes Stablecoin QR Payment Proof of Concept With Kwangju Bank

Toss said on October 8 that it had completed a proof of concept for stablecoin-based QR code payments with Kwangju Bank.

The test was conducted to verify a scenario in which Kwangju Bank customers make stablecoin payments at offline stores through the Toss app. When users of the Kwangju Bank app select the stablecoin payment option, the linked Toss app opens automatically and the payment is completed by scanning a QR code.

Settlement is structured so the payment amount is transferred directly to the merchant. The transfer is processed without an intermediary step, meaning payment and settlement are confirmed at the same time the transfer is completed. That eliminates the need for a separate settlement process after payment.

The proof of concept was conducted in an environment separate from commercial services. The companies created a virtual merchant and implemented the payment flow without using customer information or real assets. The exercise focused on confirming that payment and settlement worked as designed.

Based on the results, the two companies are preparing a second round of testing. They plan to refine the payment process by reducing the number of steps customers must take and discuss the scope of testing with actual merchants.

Bae Tae-woong, Hankyung.com reporter, btu104@hankyung.com