Changer.ae signs MoU with Kbank and BPMG to explore stablecoin-based cross-border settlement

Changer.ae, a virtual asset service provider regulated by the Abu Dhabi Global Market (ADGM), has entered into a Memorandum of Understanding (MOU) with Kbank, a leading Korean digital bank, and BPMG, a blockchain technology company, to investigate stablecoin-based cross-border settlement and payment solutions. The collaboration will leverage Kbank’s Korean-won (KRW) banking infrastructure, BPMG’s blockchain and stablecoin technology, and Changer.ae’s UAE-based digital asset custody and settlement services.

The three parties will assess the potential of stablecoins to enhance settlement and liquidity between Korea and the UAE, focusing on applications like international remittances, foreign exchange, and cross-border digital asset settlement. The MOU outlines a framework for pilot programs utilizing bank-linked settlement flows, pending regulatory approvals, to test improvements in speed, transparency, and efficiency.

According to Wang Hao, CEO of Changer.ae, the partnership combines “regulated banking rails in Korea, blockchain-based stablecoin infrastructure, and ADGM-licensed digital asset custody and settlement services.” The companies emphasize that no stablecoin issuance or regulated financial services are being launched immediately, and any future offerings will require regulatory approval and further agreements.

(Source：Gulf News)