Key Highlights
- KSNet signed an MoU with the Solana Foundation to pilot Solana Pay and the x402 AI payment protocol.
- The company will first test stablecoin merchant payments before evaluating AI-driven micropayments.
- The pilot aims to integrate blockchain payments with South Korea’s existing KRW settlement network while meeting domestic AML standards.
South Korea’s blockchain payments ecosystem continues to expand as KSNet, one of the country’s largest merchant payment processors, has partnered with the Solana Foundation to test stablecoin-based merchant payments and AI-native payment infrastructure.
According to a local report, the memorandum of understanding (MoU), signed at KSNet’s headquarters in Seoul, outlines two separate proof-of-concept (PoC) projects. The company will first integrate Solana Pay into its merchant payment network before evaluating x402, an emerging payment protocol designed for autonomous AI transactions.
Why merchant payments come first
The first phase focuses on integrating Solana Pay into KSNet’s payment infrastructure, which has served Korean merchants for more than 26 years across online and offline channels. According to the companies, the pilot will connect blockchain-based payments with the country’s existing Korean won (KRW) settlement network while complying with domestic anti-money laundering (AML) requirements.
The project will also assess methods to reduce exchange-rate volatility and liquidity risks that merchants could face when accepting stablecoin payments.
KSNet CEO Park Han-han said the company intends to combine its decades of settlement experience with blockchain technology. He said, “Based on the payment and settlement know-how accumulated in the market, we will try to provide the safest payment infrastructure to users.”
Next comes AI-powered payments through x402
Once the Solana Pay pilot is complete, KSNet plans to begin testing x402, a protocol designed to enable autonomous payments between AI agents and internet services. Unlike traditional payment rails that rely on user authentication or credit cards, x402 embeds payments directly into standard internet requests using the HTTP 402 status code, allowing software agents to make small-value payments automatically.
KSNet said it intends to integrate the protocol with its internally developed AI payment platform to determine whether it can support machine-to-machine payment flows. The company noted that conventional card infrastructure is poorly suited for ultra-small transactions because multiple layers of acquiring, interchange, and settlement fees make sub-won payments economically impractical.
Solana’s growing presence in Korea
The agreement marks another step in Solana’s growing presence within South Korea’s financial sector.
Earlier this year, Shinhan Card partnered with Solana to explore blockchain-based payment infrastructure. In June, Toss Bank also signed an MoU with Solana to test stablecoin-powered cross-border remittances, aiming to evaluate whether blockchain-based settlement could make international money transfers faster and cheaper than traditional payment rails.
Unlike those initiatives, KSNet’s partnership extends beyond stablecoin settlements by introducing AI-native payment infrastructure through x402, making it one of the first Korean payment companies to formally evaluate autonomous machine-to-machine payments.
Why KSNet chose Solana for the pilot
Solana has increasingly positioned itself as a blockchain optimized for payments thanks to its high transaction throughput and relatively low network fees. These characteristics have made the network attractive for payment providers experimenting with stablecoins, merchant settlement, and tokenized financial infrastructure.
The Solana Foundation has also been expanding initiatives aimed at integrating blockchain into mainstream payment systems rather than focusing solely on decentralized finance.
Both organizations emphasized that the agreement currently covers proof-of-concept testing rather than commercial deployment. For now, the partnership highlights how blockchain payment infrastructure is steadily moving from crypto exchanges into the country’s established financial system.
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