UAE Changer.AE partners with Korean Digital Bank for stablecoins

Changer.ae a regulated virtual asset service provider licensed by the Financial Services Regulatory Authority (FSRA) in ADGM in Abu Dhabi has signed a Memorandum of Understanding (MOU) with Kbank, Korean digital bank, and BPMG, a blockchain technology company, to explore stablecoin-based cross-border settlement and payment use cases. The three parties will jointly evaluate how stablecoins can be used as a settlement and liquidity layer connecting Korea and the UAE, supporting use cases such as international remittance, foreign exchange, and cross-border digital asset settlement.

Under this collaboration, Kbank will provide regulated Korean-won (KRW) banking rails and account-based settlement infrastructure, BPMG will contribute blockchain and stablecoin technology, and Changer will provide UAE-based regulated digital asset custody, conversion, and settlement connectivity.

The MOU establishes a framework for pilot programs using bank-linked settlement flows, subject to applicable regulatory approvals, to test how stablecoins can improve speed, transparency, and efficiency in cross-border payments.

Wang Hao, SEO of Changer.ae stated that the partnership brings together regulated banking rails in Korea, and ADGM licensed digital custody and settlement services in the UAE for a cross-border financial infrastructure.

Choi Woo-Hyung, CEO of KBank added that the collaboration with regulated partners in the UAE, will assesss innovative digital asset infrastructure while maintaining strict adherence to financial regulations in Korea and internationally.

Jihoon Cha, CEO of BPMG, commented that they aim to establish a practical global standard for stablecoin remittance and settlement frameworks.