South Korean digital financial services provider Dozen entered into a strategic partnership with the Solana Foundation through a Memorandum of Understanding signed on June 19. The collaboration aims to develop advanced financial infrastructure supporting the Web3 economy, encompassing stablecoin payments, AI-driven commerce, cross-border transactions, digital asset infrastructure, and tokenization of real-world assets. Representatives at the signing ceremony included Dozen Chief Executive Officer Cho Chul-han, Solana Foundation Asia-Pacific Business Development Head Lu Yin, and Solana Foundation Korea General Manager Lee Sung-san. The partnership addresses longstanding inefficiencies in traditional remittance systems while building a borderless Web3 payment ecosystem combining blockchain technology with established financial infrastructure.
Dozen and Solana Foundation Develop USD-Backed Stablecoin Payment Framework
The centerpiece of the collaboration is the development of a next-generation payment and settlement infrastructure powered by stablecoins and smart-contract technology. The partners plan to establish a payment framework utilizing U.S. dollar-backed stablecoins while implementing a Delivery versus Payment (DvP) model. Within this structure, Dozen will act as a payment partner, bridging traditional financial networks with blockchain-based systems to facilitate more efficient transactions.
As discussions surrounding the legalization of Korean won-backed stablecoins continue to gain momentum in South Korea, the two organizations also intend to assess opportunities for future expansion into won-denominated stablecoin payment services.
Partnership Targets Cross-Border Payment Efficiency Through Blockchain Infrastructure
The agreement places significant emphasis on international payment services. By combining Solana's high-speed blockchain infrastructure with Dozen's experience in financial operations, the companies aim to create more efficient cross-border payment solutions. The initiative is expected to lower remittance costs, improve transaction transparency, and significantly accelerate processing times for international money transfers. These improvements could strengthen the competitiveness of blockchain-based financial services while addressing longstanding inefficiencies in traditional remittance systems.
AI Agents to Execute Autonomous Commerce Transactions
The companies are jointly exploring an Agentic Commerce framework in which AI agents can independently execute purchasing decisions and complete payment and settlement processes without direct human involvement. The envisioned model would enable AI systems to identify products, evaluate purchasing options, complete transactions, and finalize settlements autonomously. Such developments could reshape digital commerce by introducing a higher degree of automation into online purchasing experiences.
Dozen Expands Solana Ecosystem Engagement and RWA Tokenization Initiatives
The partnership is expected to deepen Dozen's engagement with the Solana ecosystem, one of the most active decentralized finance networks in the blockchain industry. Through collaboration with developers, infrastructure providers, and application builders operating on Solana, Dozen intends to establish blockchain-based payment rails capable of supporting future financial applications.
Additionally, the companies will explore opportunities in the rapidly growing field of Real-World Asset (RWA) tokenization. Their efforts will include evaluating practical applications for digital assets and developing technology strategies tailored to both South Korean and international markets. The partnership seeks to create a comprehensive Web3 financial platform that combines stablecoin payments, AI-driven commerce, global remittances, and tokenized real-world assets within a unified ecosystem.
Commenting on the collaboration, Lu Yin indicated that building a borderless Web3 payment ecosystem in South Korea alongside a company with strong financial infrastructure represented an important milestone. He added that the partnership aims to generate meaningful business outcomes in global financial markets by leveraging Solana's high-performance blockchain technology. Cho Chul-han stated that the alliance strengthens Dozen's Web3 technological capabilities and accelerates the development of advanced payment infrastructure. He further noted that the company intends to build an innovative financial platform encompassing AI-powered commerce and international remittance services.
FAQ
What did Dozen and Solana Foundation announce on June 19?
Dozen and the Solana Foundation signed a Memorandum of Understanding on June 19 to develop Web3 financial infrastructure. The partnership covers stablecoin payments, AI-driven commerce, cross-border transactions, digital asset infrastructure, and tokenization of real-world assets.
How will the partnership improve cross-border payments?
By combining Solana's high-speed blockchain infrastructure with Dozen's financial operations experience, the collaboration aims to lower remittance costs, improve transaction transparency, and accelerate processing times for international money transfers.
What is the Agentic Commerce framework explored in the partnership?
The Agentic Commerce framework enables AI agents to independently execute purchasing decisions and complete payment and settlement processes without direct human involvement. AI systems would identify products, evaluate purchasing options, complete transactions, and finalize settlements autonomously.
