KSNet has successfully integrated Solana Pay into its payment network serving 330,000 merchants and processing approximately $4 billion in monthly transaction volume. According to ME News, the integration was announced on July 30 (UTC+8) by Solana, marking the completion of the memorandum of understanding signed with the Solana Foundation in July 2026. The partnership began through proof-of-concept projects focused on Solana Pay integration and AI payments using the x402 protocol, bringing together KSNet's domestic payment network spanning 26 years and Solana's blockchain infrastructure to evaluate digital asset payments compatible with South Korea's existing financial system.
The integration targets 330,000 South Korean merchants processing approximately $4 billion in monthly volume. KSNet processes approximately 130 million transactions every month and has been in the payments business for 26 years. The MOU outlines plans to integrate Solana Pay into both online and offline payment experiences across KSNET's merchant network. This represents a significant expansion from previous proof-of-concept testing to a commercial-scale integration across South Korea's largest payment processor network. As reported by Solana, the deal provides Solana with direct access to a mainstream Korean retail base that is difficult to build from scratch. KSNet CEO Park Han-han emphasized the company's commitment to combining decades of settlement experience with blockchain technology, stating "Based on the payment and settlement know-how accumulated in the market, we will try to provide the safest payment infrastructure to users."
A second proof-of-concept focuses on artificial intelligence payments using the x402 protocol. According to KSNet, the company will evaluate the protocol by integrating it into an AI-based payment system undergoing internal testing. The x402 protocol uses the HTTP 402 "Payment Required" status code, allowing AI agents to make small payments automatically when accessing APIs or paid online services without conventional logins or credit card authentication. The proof-of-concept will examine whether blockchain infrastructure can support machine-to-machine payment models more efficiently while remaining compatible with existing financial systems. The x402 component adds a forward-looking angle to the deal, as AI agents that pay for services need fast, cheap settlement that Solana has positioned itself to provide. Unlike traditional payment rails that rely on user authentication or credit cards, x402 embeds payments directly into standard internet requests, making it particularly suitable for ultra-small transactions where conventional card infrastructure becomes economically impractical due to multiple layers of acquiring, interchange, and settlement fees.
KSNet operates as Korea's only comprehensive payment provider, combining card VAN, internet payment gateway, and electronic finance services in one platform. The company has been in Korean payments since December 1999 and grew into a top-four value-added network in South Korea. When Net1 acquired KSNet in 2010, it called the company Korea's second-largest processor, and Stonebridge Capital and Payletter later bought KSNet in 2020 for about $237 million. Under the MOU, both parties have successfully completed the integration, with KSNet routing onchain payments through its existing point-of-sale and gateway systems. The integration connects blockchain-based payments with the country's existing Korean won (KRW) settlement network while complying with domestic anti-money laundering (AML) requirements. This allows merchants to accept Solana-settled payments alongside traditional cards, making the integration seamless for existing retail infrastructure. Once the Solana Pay integration is complete, KSNet plans to begin testing x402, integrating the protocol with its internally developed AI payment platform to determine whether it can support machine-to-machine payment flows.
The KSNet partnership represents another enterprise payment initiative in Solana's expanding ecosystem. In June, the KG Group signed its own MOU with the Solana Foundation, targeting stablecoin settlement across roughly 220,000 merchants tied to KG Inicis. Together, these two agreements point Solana toward well over half a million Korean merchant relationships. Enterprise adoption has also extended into corporate finance with Ramp's Solana-powered stablecoin accounts, showing continued demand for around-the-clock settlement solutions. South Korea has become a focal point for onchain payment experiments, with Circle recently teaming with Kakao and Toss Bank on stablecoin rails, and KSNet itself already partnering with Crypto.com earlier in 2026 to enable crypto payments for tourists. The Solana Foundation has been expanding initiatives aimed at integrating blockchain into mainstream payment systems, with earlier initiatives including Shinhan Card's partnership with Solana to explore blockchain-based payment infrastructure and Toss Bank's MOU in June to test stablecoin-powered cross-border remittances. Unlike those initiatives, KSNet's partnership extends beyond stablecoin settlements by introducing AI-native payment infrastructure through x402, making it one of the first Korean payment companies to formally evaluate autonomous machine-to-machine payments.
