PARAMETA recently signed a strategic memorandum of understanding (MoU) with HanaTech, a global stablecoin payment wallet company.
The agreement is an important step toward jointly researching and developing a next-generation KYC-based stablecoin model and stablecoin debit card infrastructure.
Discussion around issuing and using Korean won (KRW) stablecoins has picked up sharply in Korea lately. But the technical requirements, and above all concrete models for KYC (know your customer) and AML (anti-money laundering), are still thin on the ground.
Through this partnership, PARAMETA aims to validate a next-generation KYC model built on decentralized identifiers (DID) and to present a structure that cuts down on duplicated procedures while offering multichain scalability and fast adoption.
HanaWallet, provided by HanaTech, is a Web3 wallet that combines multichain digital asset management with a stablecoin debit card service.
HanaWallet users can instantly convert thousands of tokens, including Bitcoin, Ethereum, Stellar, and stablecoins, on their phone and issue them as a virtual card, then use it for everyday payments at online and offline merchants worldwide. It is spreading quickly, centered on Australia, and is already used across everyday categories such as hotels, shopping, and general consumer spending.
PARAMETA and HanaTech will pursue the following goals together through this partnership:
- Validate a next-generation KYC-based stablecoin model
- Run a global PoC for a stablecoin debit card
- Explore the potential to expand into KRW-based services in Korea
In particular, a stablecoin debit card PoC (proof of concept) built on the HanaWallet infrastructure already running in Australia will demonstrate that a new payment model and a DID-based KYC framework can work in Korea too.
- This partnership is an important opportunity to validate real-world payments and next-generation KYC innovation at the same time
- and we will work closely with HanaWallet to bring a KRW-based stablecoin debit card and a DID-based KYC model to the Korean market
- PARAMETA CEO JH Kim
PARAMETA is building a safer, more convenient financial experience through blockchain and Web3 technology. This partnership with HanaTech will be an important opportunity to validate real-world payments and KYC innovation at once, and a springboard for introducing a KRW-based stablecoin debit card and a next-generation KYC model to the Korean market.
Working with PARAMETA will be an opportunity to validate a new model that combines DID-based KYC with stablecoin payment infrastructure,
and building on the stablecoin debit card already operating in Australia, this partnership will show the potential for expansion across the globe, including Korea.
That will be an important foundation for broader institutional participation and for stablecoin payments to enter the market in earnest.
HANA Tech CEO Mark Jones
We will keep going on this journey with our global partners, bringing blockchain technology into everyday life and building new financial infrastructure.