Stablecoin payment sales expected; digital wallet and payment gateway services also planned

Choi Jun-ho (left), CEO of Hyungji Global, and Lee Hyeon-gi, CEO of EQ-BR, pose for a photo at the signing ceremony for the "next-generation blockchain point ecosystem and Hyungji Pay infrastructure" MOU on June 26. [Hyungji Global]
Choi Jun-ho (left), CEO of Hyungji Global, and Lee Hyeon-gi, CEO of EQ-BR, pose for a photo at the signing ceremony for the "next-generation blockchain point ecosystem and Hyungji Pay infrastructure" MOU on June 26. [Hyungji Global]

Hyungji Global announced Monday that it will build a next-generation digital payment platform called "Hyungji Pay" in partnership with blockchain specialist EQ-BR.

The two companies signed an MOU on June 26 at the Hyungji Global Fashion Complex Center in Songdo, Incheon, to establish a "next-generation blockchain point ecosystem and Hyungji Pay infrastructure." A simulation of the stablecoin payment infrastructure followed the signing ceremony.

Under the agreement, Hyungji Global will develop a blockchain-based point pilot channel, real-time synchronization between its integrated "Hyungji Members" membership system and the blockchain, and a Hyungji Pay point digital wallet and payment gateway system. The company will also pursue the creation of a global payment ecosystem based on a Hyungji stablecoin and expand external partnerships.

The completed system is expected to be deployed across more than 2,000 domestic stores operated by Fashion Group Hyungji, as well as through partners' global distribution networks.

EQ-BR is a blockchain infrastructure company that develops and operates Web3 services — including digital wallets, blockchain points and stablecoin payments — built on its proprietary blockchain platform EQ Hub. The company has earned recognition for its technical capabilities by expanding partnerships with financial institutions and various industries to build digital asset-based payment services.

Hyungji Global has been preparing to introduce stablecoin payment infrastructure, filing six cryptocurrency-related trademark applications with the Korean Intellectual Property Office last year. A company official said the MOU with EQ-BR is "a strategic starting point for responding to the next-generation payment paradigm shift," adding that the company will "build a digital payment ecosystem based on blockchain point infrastructure."


andy@heraldcorp.com