Korea’s largest table ordering service, T’Order, has chosen the SUI blockchain and co-developed the Stablecoin Infrastructure for commercial applications across the country by leveraging the company’s extensive network.
summary
- T’Order will partner with SUI to launch the Stablecoin Payments system with 300,000 points of sale devices in Korea.
- This platform uses Stablecoin for future winning pages deployed in SUI.
- The distributed storage protocol walruses store transaction data.
SUI Network announced the partnership via a blog post on September 24th, which integrates T’Order’s advanced QR codes and facial recognition technology, making daily Stablecoin payments more seamless.
T’Order is Korea’s largest sales ordering platform, processing more than $4.3 billion in transactions per year. The company has long defended Zero Fee payments for small businesses. We also want to replace costly card fees with fast, affordable digital payments by integrating Stablecoins.
According to Christian Thompson, managing director of the SUI Foundation, the collaboration is expected to target the Korean food service market. This is rated at around KRW 190 trillion and “improves the consumer experience of millions of South Korea.”
“The mass adoption arc for stubcoin and crypto payments is accelerating rapidly, and seeing SUI at the forefront of this trend with innovative partners like T’Order,” Thompson said.
Future platforms will include Stablecoin for WON pages deployed on SUI networks. However, this announcement did not disclose the names of specific launch timelines or published entities.
All transaction and loyalty data are stored in Walrus, a decentralized storage protocol built on the SUI blockchain.
Once live, Stablecoin payments, rewards and payment systems will be available across the T’Order national network of over 300,000 Point of Point devices.
“The partnership with SUI is the next step in that vision, leveraging our unique nationwide deployment capabilities and real-time infrastructure to create new payment and payment paradigms.
SUI, the native token of the SUI network, quickly did not respond to news, falling 3.4% in the last 24 hours, continuing the downtrend that began on September 18th.
A stable increase in appetite in Korea
Stablecoins have been a key focus area in Korea for the past year as they drive the development of a domestic digital asset ecosystem that reduces reliance on dollar-covered tokens like USDT and USDC.
Over the past few months, local businesses and financial institutions have accelerated their efforts to issue WON-based Stablecoins with the launch of KRW1, a fully supported, won token issued on the avalanche blockchain.
At the same time, South Korean regulators have already begun efforts to finalize legislative frameworks to regulate the ridiculous issuance and operations in the country. The new bill, which will be released in October, is expected to outline requirements for collateral, internal controls and issuer transparency.