ZEKTO Integrates Stablecoin Payment into 'Life4Cuts'… Launches Offline Proof-of-Concept
ZEKTO, a specialist in AI and stablecoin payment infrastructure, is set to launch an offline stablecoin payment proof-of-concept at stores of the self photo booth brand 'Life4Cuts' (인생네컷).
ZEKTO announced that it has signed a strategic memorandum of understanding (MOU) with BDACS, a digital asset infrastructure company, and LK Ventures, the operator of Life4Cuts, for the pilot introduction of a stablecoin payment system.
Under the agreement, the three companies will integrate 'KRW1', a Korean won-pegged stablecoin issued by BDACS, into the offline payment environment of Life4Cuts. Using ZEKTO's payment infrastructure 'SSDA', the entire process from user payment to merchant settlement will be verified in a real-world setting.
For blockchain-based payments to be used as a practical means of commerce, a system is needed that can reliably handle not only asset transfers but also the follow-up procedures that arise after payment — including cancellations, refunds, receipt confirmation, and merchant settlement.
In this proof-of-concept, ZEKTO plans to implement a Web3 payment structure based on SSDA that can manage payment requests, approvals, and processing results, as well as cancellation, refund, and settlement status, all as consistent data.
Life4Cuts, the subject of the proof-of-concept, operates more than 1,000 stores across 30 countries worldwide, with over 3.8 million monthly users. Given the high proportion of domestic and international tourists and young consumers, the company expects to be able to verify the convenience and stability of stablecoin payments in a real offline environment.
ZEKTO will initially focus on improving payment convenience for foreign tourists visiting Life4Cuts stores in Korea. Overseas users will be able to use stablecoins via SSDA without the need for separate Korean won exchange or complex payment procedures, while merchants will receive settlement after confirming payment details.
During the pilot operation, payment stability, user convenience, compatibility with existing store systems, and settlement efficiency will be reviewed step by step. Based on the results, plans are also being considered to expand the scope of application to Life4Cuts' overseas stores as well as various offline commerce sectors including tourism, content, and retail.
"In order to realize a next-generation Web3 payment infrastructure that both users and merchants can use with confidence, we will place stability and reliability as our top priorities and continue to expand the use of blockchain payments in everyday consumer settings."
Lee Yu-jin, CEO of ZEKTO
"Life4Cuts is the perfect venue to verify the real-world payment potential of the Korean won stablecoin KRW1. We will expand offline payment use cases based on our stablecoin infrastructure and explore the possibility of extending the Korean won's reach on-chain globally."
Ryu Hong-yeol, CEO of BDACS
"By introducing digital asset payment infrastructure to Life4Cuts, we will enhance payment convenience for foreign customers and simultaneously verify the potential for expansion to global stores."
Lee Ho-ik, CEO of LK Ventures
ZEKTO plans to combine stablecoin operation and management with on-chain payment verification technology centered on SSDA, and to expand the scope of its stablecoin-based payment infrastructure through collaboration with various offline stores and global partners going forward.
Reporter: kim3956@heraldcorp.com / Source: Herald Economy
※ This article has been translated from the original using AI. The original article published in Korean is the authoritative source.
Original article (Korean): View original article →
Other related articles:
Stablecoin payment pilot at Life4Cuts… Foreign tourists to test first
ZEKTO Integrates Stablecoin Payment into 'Life4Cuts'… Launches Offline Proof-of-Concept
ZEKTO announced that it has signed a strategic memorandum of understanding (MOU) with BDACS, a digital asset infrastructure company, and LK Ventures, the operator of Life4Cuts, for the pilot introduction of a stablecoin payment system.
Under the agreement, the three companies will integrate 'KRW1', a Korean won-pegged stablecoin issued by BDACS, into the offline payment environment of Life4Cuts. Using ZEKTO's payment infrastructure 'SSDA', the entire process from user payment to merchant settlement will be verified in a real-world setting.
For blockchain-based payments to be used as a practical means of commerce, a system is needed that can reliably handle not only asset transfers but also the follow-up procedures that arise after payment — including cancellations, refunds, receipt confirmation, and merchant settlement.
In this proof-of-concept, ZEKTO plans to implement a Web3 payment structure based on SSDA that can manage payment requests, approvals, and processing results, as well as cancellation, refund, and settlement status, all as consistent data.
Life4Cuts, the subject of the proof-of-concept, operates more than 1,000 stores across 30 countries worldwide, with over 3.8 million monthly users. Given the high proportion of domestic and international tourists and young consumers, the company expects to be able to verify the convenience and stability of stablecoin payments in a real offline environment.
ZEKTO will initially focus on improving payment convenience for foreign tourists visiting Life4Cuts stores in Korea. Overseas users will be able to use stablecoins via SSDA without the need for separate Korean won exchange or complex payment procedures, while merchants will receive settlement after confirming payment details.
During the pilot operation, payment stability, user convenience, compatibility with existing store systems, and settlement efficiency will be reviewed step by step. Based on the results, plans are also being considered to expand the scope of application to Life4Cuts' overseas stores as well as various offline commerce sectors including tourism, content, and retail.
ZEKTO plans to combine stablecoin operation and management with on-chain payment verification technology centered on SSDA, and to expand the scope of its stablecoin-based payment infrastructure through collaboration with various offline stores and global partners going forward.
Reporter: kim3956@heraldcorp.com / Source: Herald Economy
※ This article has been translated from the original using AI. The original article published in Korean is the authoritative source.
Original article (Korean): View original article →
Other related articles:
Stablecoin payment pilot at Life4Cuts… Foreign tourists to test first