BEATOZ and the payment service specialist Danal(064260) will begin a pilot to introduce stablecoin payment and settlement services in brick-and-mortar merchant environments.
BEATOZ said on the 4th that it signed a memorandum of understanding (MOU) with Danal centered on commercializing stablecoin payment and settlement services. The two sides plan to work together to implement virtual asset payment technology in real merchant environments and bring it to market.
They plan to interlink each company's merchant network, financial institutions, and partnership network infrastructure to broaden touchpoints for virtual asset payment services. Danal has provided payment services to merchants across both online and offline channels.
BEATOZ's CPG (Crypto Payment Gateway) supports a method that connects in parallel to existing VAN networks. Merchants can accept payments in virtual assets without replacing their terminals. For online and application (app) payments, it applies a direct integration method using an application programming interface (API).
Merchants receive settlement in their desired stablecoin regardless of the type of virtual asset they accepted. Even if the user's coin and chain differ, the CPG automatically handles the payment route, chain conversion, and swap (exchange).
The two companies will jointly design payment and settlement services by linking BEATOZ's hybrid blockchain and CPG with Danal's payment gateway (PG) and payment infrastructure, and will pursue a proof of concept (PoC). They will also review cooperation plans for the issuance and distribution of virtual assets, including stablecoins, as well as payment and settlement.
They will also jointly study the service model and revenue model, business procedures, technical specifications, and standard interfaces. They are considering a joint infrastructure plan involving financial institutions, VAN companies, merchants, and virtual asset operators. The scope, roles, and schedule for each project will be decided later through discussions.