Circle Partners with Kakao and Toss Bank to Bring USDC Payments to South Korea

Seoul, South Korea — July 14, 2026 — Circle Internet Financial has announced a strategic partnership with Kakao Corporation and Toss Bank to integrate USDC stablecoin payment infrastructure across South Korea's digital financial ecosystem. The collaboration connects Circle's regulated stablecoin rails with Kakao's 50+ million monthly active users and Toss Bank's 10+ million customers.

The partnership enables USDC-denominated transactions across Kakao Pay, Kakao's mobile payment platform, and positions Toss Bank as the primary settlement layer for USDC-based cross-border remittances. All implementations operate under full compliance with South Korea's Real Name Account System (RNAS) and Financial Services Commission (FSC) regulatory requirements.

"South Korea represents one of the most sophisticated digital asset markets globally, with $180 billion in digital asset holdings and among the highest per-capita crypto adoption rates worldwide," said Jeremy Allaire, CEO of Circle. "This partnership with Kakao and Toss Bank establishes USDC as the foundational payment infrastructure for mainstream stablecoin adoption in Asia, building on the institutional momentum we established through our Visa integration in June."

The rollout proceeds in two phases. Beginning September 2026, Kakao Pay users gain access to USDC-denominated payments across Kakao's ecosystem spanning messaging, e-commerce, ride-sharing, and financial services. In December 2026, Toss Bank launches USDC-based cross-border remittance services targeting South Korea's $15 billion annual remittance market, with settlement times measured in seconds rather than days.

"Kakao has built financial infrastructure that reaches virtually every adult in South Korea," said Hong Eun-taek, President of Kakao Financial Corporation. "Integrating USDC payment rails allows us to extend that infrastructure globally, giving our users access to programmable, instant settlement without the friction of traditional correspondent banking."

USDC currently holds a $34.2 billion market capitalization and 28% global stablecoin market share, with daily transaction volumes reaching $8.4 billion. South Korea accounts for $420 million in daily stablecoin volume, a figure that grew 280% year-over-year through Q2 2026.

"Cross-border payments remain unnecessarily expensive and slow for Korean consumers and businesses," said Lee Eun-mi, CEO of Toss Bank. "USDC settlement through our platform reduces remittance costs by an estimated 60–70% compared to traditional wire transfers while delivering near-instant finality."

The announcement follows Circle's June 2026 integration with Visa, which extended USDC access to 70+ million merchants globally. Enterprise blockchain spending reached $19.3 billion annually in 2026, with stablecoin infrastructure identified as the fastest-growing segment by IDC. Global stablecoin payment volumes grew 340% year-over-year through mid-2026.

Circle completed a $440 million Series D funding round in May 2026 at a $9.3 billion valuation, with proceeds allocated toward geographic expansion and institutional partnership development in Asia-Pacific markets.

Regulatory compliance remains central to the partnership structure. Circle, Kakao, and Toss Bank have collectively achieved full RNAS compliance and maintain ongoing engagement with the Financial Services Commission. All USDC reserves backing Korean-market transactions are held in segregated accounts subject to monthly third-party attestation.

About Circle

Circle Internet Financial is a global financial technology firm and the issuer of USDC, the world's second-largest stablecoin by market capitalization. Founded in 2013 and headquartered in Boston, Circle provides regulated stablecoin infrastructure, cross-border payment APIs, and institutional treasury services to financial institutions, enterprises, and developers across 185 countries. Circle is backed by institutional investors including BlackRock, Fidelity, and General Catalyst.

About Kakao Corporation

Kakao Corporation is South Korea's largest technology conglomerate, operating KakaoTalk, Kakao Pay, Kakao Mobility, Kakao Bank, and an expanding portfolio of financial and digital services. With 50+ million monthly active users representing approximately 95% of South Korea's adult population, Kakao operates one of the most comprehensive digital ecosystems in the country.

About Toss Bank

Toss Bank is South Korea's leading digital-only bank, launched in 2020 under Viva Republica's Toss financial super-app. With 10+ million customers, Toss Bank offers mobile-first banking, lending, and payment services.