Blockchain fintech firm Open Asset has announced that it has signed a memorandum of understanding with TripVitoz, a travel and lodging platform, as part of a joint plan to expand the real-world use of Korean won (KRW) stablecoins in the inbound tourism market. The agreement is positioned as a step toward introducing blockchain-based payment models into Korea’s tourism and creator economies.
Open Asset operates a KRW stablecoin issuance system based on a dual-signature reserve management structure in cooperation with financial institutions. This model is designed to ensure transparency and safety in the backing of its stablecoin. The company has been exploring ways to expand practical demand for digital KRW, which has so far struggled to find widespread use in domestic markets.
Focus on Foreign Visitor Payments and Creator Settlements
Under the partnership, the two companies intend to work together on several initiatives, including automated settlement systems for creators using the TripVitoz platform, building won-based payment options for international tourists, and testing global remittance and payment models powered by stablecoins.
The plan includes integrating blockchain-based payment infrastructure so that foreign travellers and overseas creators can make KRW-denominated payments or receive earnings without going through conventional currency exchange and banking processes. The collaboration is expected to simplify transactions inside Korea’s tourism ecosystem, where foreign visitors often face limitations in using local payment methods.
Industry observers have interpreted the move as an attempt to create real-world demand for KRW stablecoins by linking them to the inbound travel industry, an area projected to attract consistent transactional volume as Korea sees rising numbers of international visitors.
Securing Utility in the Stablecoin Market
The partnership is being viewed as an attempt to address one of the main criticisms of the Korean stablecoin ecosystem: the lack of clear use cases that generate continuous transactional activity. By embedding stablecoin payments into sectors such as tourism, creator monetization, and cross-border remittances, the companies aim to build an economic loop supported by both domestic and international users.
Open Asset explained that the collaboration will allow foreign tourists to make payments in Korea more conveniently and enable content creators on TripVitoz to receive automated settlements in KRW stablecoin without delays or banking limitations.
Kim Kyung-up, CEO of Open Asset, stated that the agreement is intended to gradually expand practical scenarios for digital KRW, starting with foreign visitor payments, creator settlements, and reward-based activity within the platform ecosystem. He suggested that the company sees the partnership as a foundation for building a broader, stablecoin-powered financial environment tied to real economic activities.
Next Steps for Implementation
Both companies plan to begin pilot services that demonstrate the feasibility of on-chain settlement and cross-border remittance using KRW stablecoins. The long-term goal includes positioning their model as an alternative financial infrastructure for sectors that rely heavily on multi-currency payments.
With Korea targeting a rebound in tourism and a surge in creator-led economy platforms, the initiative may serve as an early example of how stablecoins can be embedded into consumer-facing industries rather than remaining limited to crypto-native environments.
If successful, the partnership could also support future regulatory discussions around won-based stablecoins by offering evidence of safe, bank-connected, use-case-driven deployment.
