Firms Sign Strategic MOU on May 21 to Build Multinational Settlement Network
(From right) Jang Jae-hoon, CEO of Token Asia Korea, and Makoto Nakano, CEO of Japan’s UPCX (Photo provided by Token Asia Korea)
Token Asia Korea, a domestic blockchain financial solutions company, announced on May 21 that it has signed a strategic memorandum of understanding (MOU) with ‘UPCX,’ a Japan-based ultra-high-speed Layer1 mainnet project, and is launching the ‘K-Silk Road Digital 2.0’ project to build a stablecoin-based multinational payment ecosystem.
Jang Jae-hoon, CEO of Token Asia Korea, said, “If STO is the engine that drives the financialization of real assets and digital content, stablecoins are the core driving force that organically powers this infrastructure in global markets,” explaining that the company plans to “build a multi-currency stablecoin ecosystem in a consortium format that fully complies with global regulatory guidelines.”
The collaboration is being pursued to tightly integrate South Korea’s key manufacturing distribution networks, cultural content, and the broader healthcare and franchise industries into an on-chain settlement system infrastructure.
UPCX is a Singapore-based project deploying an open-source platform optimized for everyday financial payments, having demonstrated the capacity to process more than 100,000 transactions per second. In particular, it has secured a high level of external credibility, having passed a review by Japan’s Financial Services Agency (FSA), known for its strict regulations, and achieving a qualified listing on ‘BitTrade,’ a major local cryptocurrency exchange.
Token Asia Korea plans to transform the traditional import-export financial environment into a global digital settlement paradigm by integrating UPCX’s decentralized payment module into its existing supply chain finance design capabilities, which are built on established global distribution channels. The company is also actively exploring partnerships with institutional banks in countries such as Brazil and Canada, with the goal of entering financial markets in the Americas and Latin America beyond the Asian region.
Makoto Nakano, CEO of Japan’s UPCX, said, “This partnership will serve as an important foothold for South Korea’s stablecoin settlement network to expand into global trade infrastructure,” adding that the company will “leverage the operational know-how accumulated through payment infrastructure collaboration with leading major companies, including Japan’s NTT Digital, to elevate the completeness of the cross-border multi-currency settlement system.”
Yoon Young-sil
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