BPMG, a blockchain and artificial intelligence company, has announced that its US-based subsidiary, ARACORE, has entered into a memorandum of understanding (MOU) with DOZN, a fintech company listed on South Korea’s KOSDAQ market. Under the agreement, the two companies will assess how stablecoins could support cross-border payment and settlement services linked to the South Korean financial system.
The collaboration combines DOZN’s domestic financial, payment, and foreign exchange infrastructure with ARACORE’s Institutional Settlement Network (ISN). The stated objective is to examine transaction models that connect South Korean won-denominated transactions with international stablecoin settlement.
The MOU covers potential models for cross-border payments, remittances, and settlements. As part of this work, the companies will review how financial APIs and settlement infrastructure could be integrated, alongside the regulatory and compliance requirements that would apply to such services.
ARACORE and DOZN also plan to carry out proof-of-concept testing and pilot projects. These are intended to assess the technical feasibility of the proposed models and their potential for commercialisation. The companies have not disclosed a timeline for the testing phase or for any commercial rollout, and the agreement remains exploratory at this stage.
Two infrastructure layers
DOZN provides financial infrastructure and digital banking solutions. Its services include financial value-added network services, corporate banking services, virtual accounts, and cross-border foreign exchange and settlement services. Through this offering, the company operates at the point where domestic banking and won-based payment flows meet cross-border activity.
ARACORE’s ISN is designed to connect financial institutions, stablecoin issuers, liquidity providers, and payment service providers, with the aim of coordinating cross-border transactions and settlements between them. In addition, the proposed arrangement would therefore pair a domestic, fiat-based infrastructure provider with a network built around stablecoin settlement across jurisdictions.
The planned pilots are set to test whether these two layers can be linked through existing infrastructure, with API integration and regulatory compliance identified as the main areas of review.
ARACORE’s wider settlement network
The agreement with DOZN forms part of ARACORE’s broader effort to expand its global settlement ecosystem. The company is also working with Kbank and HashKey on stablecoin-based remittance initiatives and has joined the Paxos-led Global Dollar Network. In addition, ARACORE has established partnerships with Stable and Malaysia-based TEIZA.
Taken together, these arrangements show ARACORE assembling a network of partners spanning banking, digital asset, and payment services. The DOZN agreement adds a KOSDAQ-listed infrastructure provider with direct exposure to the South Korean market, giving ARACORE’s network a potential route to won-denominated transaction flows, subject to the outcome of the planned testing and the applicable regulatory requirements.
