A South Korean payment processor that handles roughly $4 billion in monthly transaction volume just signed on to bring Solana Pay to its network of over 330,000 merchants. KSNET and the Solana Foundation inked a memorandum of understanding on July 30, setting the stage for one of the largest real-world crypto payment integrations in Asia.

KSNET processes approximately 130 million transactions every month and has been in the payments business for 26 years.

What the deal actually covers

The MOU outlines plans to integrate Solana Pay into both online and offline payment experiences across KSNET’s merchant network. The two organizations also plan to develop a proof-of-concept for an AI-based payment model using technology called “x402.”

KSNET’s crypto track record and Solana’s Korean ambitions

In May 2025, KSNET partnered with Crypto.com to support digital asset payments for travelers across various retail categories in Korea. The Solana partnership appears broader in scope, targeting the domestic consumer market as well.

In June 2022, the Solana Foundation launched a dedicated $100 million fund aimed at fostering web3 startups in South Korea.

South Korea’s regulatory environment has also been evolving. The country implemented its Virtual Asset User Protection Act, signaling that regulators are trying to create guardrails rather than outright bans.

What this means for investors

Solana’s advantage is speed and cost, with transaction fees that are fractions of a cent and settlement times measured in seconds.