Hecto WalletOne, a blockchain wallet infrastructure provider operating under Hecto Innovation, has entered into a four-party memorandum of understanding with Web3 marketplace Overtake, South Korean game item trading platform ItemBay, and the Layer-1 blockchain Sui. The collaboration is focused on conducting a proof of concept for stablecoin payment technology, marking a significant step toward the broader adoption of digital asset-based payment systems.
The initiative aims to evaluate how stablecoin payments could function in practical commercial environments before regulatory frameworks and institutional systems become more established. Through the pilot program, the participating companies intend to assess operational procedures, compliance mechanisms, user protection standards, and settlement processes required for large-scale implementation.
The partners indicated that the project will help identify potential challenges and inefficiencies that could arise when integrating digital asset payment infrastructure into existing services. Insights gained from the proof of concept are expected to support the development of a foundation for future commercial deployment of stablecoin-based payment solutions.
O-HI Wallet to Power the Infrastructure
As part of the agreement, Hecto WalletOne will provide its O-HI Wallet technology to ItemBay. The wallet solution functions as a corporate in-app wallet that can be integrated into existing applications and services through a web-view structure. This design enables businesses to incorporate blockchain wallet functionality without requiring extensive development resources.
Hecto WalletOne will supply its O-HI Wallet infrastructure to ItemBay, enabling the testing of stablecoin-based payment services within a real-world digital marketplace environment.
The company also emphasized that its status as a licensed virtual asset service provider allows it to manage and oversee wallet operations in accordance with applicable regulatory standards. This capability is expected to support compliant deployment while reducing operational complexity for participating businesses.
Stablecoins Target Lower Costs and Reduced Volatility
ItemBay plans to leverage the O-HI Wallet infrastructure to facilitate the use of the U.S. dollar-backed stablecoin USDC for transactions between users trading digital game items. With extensive experience handling high transaction volumes, the platform is expected to serve as a practical testing ground for stablecoin-powered payments.
According to the project framework, users could benefit from reduced exposure to exchange-rate fluctuations because stablecoins are designed to maintain relatively stable values compared with many cryptocurrencies. In addition, the use of USDC may offer lower transaction costs than certain traditional payment methods, potentially improving efficiency for both buyers and sellers.
The proof of concept will test USDC-based payments for digital item trading, offering users a payment option designed to reduce price volatility and lower transaction costs.
Overtake and Sui Support Global Expansion
Overtake’s role in the collaboration will focus on supporting international growth by helping attract overseas users and facilitating platform integration. Through its Web3 marketplace network, the company is expected to contribute to expanding the reach of stablecoin payment services beyond domestic markets.
Meanwhile, Sui will provide the blockchain infrastructure necessary to support stablecoin transactions. Its mainnet technology will serve as the underlying settlement layer for payment activities involving USDC and related services.
A representative from Hecto WalletOne explained that the company intends to combine the strengths of all participating organizations while maintaining strict compliance with virtual asset service provider standards. The goal, according to the company, is to establish a business-oriented digital asset wallet and payment infrastructure capable of supporting future commercial use cases.
Building a Broader Stablecoin Ecosystem
ItemBay also stated that the collaboration is intended to create a safer and more convenient payment experience for both domestic and international users. The company noted that its efforts would focus on developing infrastructure with practical applications in the game asset trading sector.
The partnership represents a broader effort by Hecto Innovation to expand a connected stablecoin ecosystem linking wallets, payment services, and digital platforms through blockchain infrastructure.
The initiative aligns with Hecto Innovation’s long-term strategy following its acquisition of Hecto WalletOne in September of last year. Since then, the company has been working to strengthen its blockchain capabilities and develop an integrated ecosystem centered on wallet, payment, and platform connectivity, positioning stablecoins as a key component of future digital commerce.