INEX Completes Internal Proof of Concept for USDC-Based Stablecoin Payments with KPN

INEX, a Korea-licensed Virtual Asset Service Provider (VASP), has completed an internal proof of concept (PoC) for a USDC-based stablecoin payment flow in collaboration with Korea Payment Networks (KPN), a domestic payment gateway (PG) operator. The initiative represents an end-to-end internal validation of the operational process spanning payment initiation through settlement between a regulated digital asset service provider and an existing payment network. The PoC was finalized on December 17, 2025.

Rather than focusing solely on technical performance, the PoC was designed around practical operational readiness required for real-world deployment. Key areas of review included payment authorization procedures, settlement handling, transaction monitoring, and internal operational controls aligned with current regulatory expectations. INEX explained that as digital asset use cases expand beyond trading into payments and settlement, institutional partners are placing greater emphasis on regulatory clarity, accountability, and operational reliability.

Within this context, the PoC aimed to assess how stablecoin-based payments could be integrated into existing payment infrastructure while maintaining compliance standards. The internal review examined whether a regulated VASP and a traditional payment network could coordinate payment and settlement flows in a manner consistent with established oversight frameworks.

Based on the results of the internal PoC, INEX and KPN have outlined scenarios for introducing a limited pilot deployment targeting selected KPN-affiliated merchants. Any such pilot would be conducted within a controlled scope, with the possibility of gradual expansion depending on operational outcomes and evolving regulatory considerations.

Further preparations are expected to focus on refining merchant settlement policies, strengthening wallet verification and anti-money laundering (AML) integration—including procedures for refunds and misdirected payments—and standardizing reporting processes for accounting and tax purposes. The companies are also reviewing potential expansion into additional payment channels, encompassing both online and offline use cases.

INEX representative stated, “This work was less about demonstrating a new payment technology and more about understanding how stablecoin payments could operate within existing settlement and compliance frameworks. The PoC allowed us to review these flows from a practical, operational perspective.”
KPN representative added, “In merchant payment environments, stability and operational clarity are critical. Through this internal review, we were able to assess how stablecoin-based settlement might be applied in a limited and controlled manner.”

INEX is a Korea-based digital asset exchange operating under a VASP license within the domestic regulatory framework. Beyond exchange services, the company is expanding into payment, custody, and B2B digital asset infrastructure. As the digital asset market shifts from technology-driven differentiation toward regulation-based trust, INEX positions licensing and compliance capabilities as the core foundation of its long-term competitiveness.