Coupang and Woori Bank completed a proof-of-concept for real-time merchant payouts using a Korean won stablecoin, testing checkout-to-settlement flows on the Tempo blockchain.
Coupang and Woori Bank said they completed a proof-of-concept demonstrating real-time payments and settlement using a Korean won-denominated stablecoin, testing the full transaction lifecycle from checkout to merchant payout.
In a statement Monday, Coupang said the pilot simulated orders through its Coupang Eats delivery platform. Payments were routed via stablecoin and settled to participating merchants in real time across multiple operational scenarios. Woori Bank handled the on- and off-ramp–linking an electronic wallet to traditional bank accounts so the stablecoin could be funded and redeemed against fiat currency.
The system ran on Tempo, a stablecoin-focused layer-1 blockchain. Coupang said it is an early partner and investor in the fintech startup behind Tempo, and noted that Stripe, Visa, Mastercard, and Deutsche Bank are also collaborating in the broader ecosystem.
The companies framed the trial as payments infrastructure rather than a speculative crypto initiative. Instant settlement could reduce working-capital strain for small and mid-sized businesses by shortening the time between sale and payout, they said, and potentially lower fees tied to card settlement delays and intermediary financing.
They also pointed to a longer-term scenario where won stablecoins received by merchants could be reused across commerce platforms–effectively functioning like cash inside a wider distribution network–creating what they called a positive feedback loop for payment circulation.
Coupang and Woori Bank said they have signed a strategic business partnership to strengthen collaboration on blockchain-based payments and plan further technical validations timed to the "institutionalization" of relevant rules.
“We will do our best to enhance customer welfare through various innovative technologies, including stablecoins, while realizing inclusive finance and mutual growth with Coupang partners,” a Coupang representative said.
A Woori Bank representative called the pilot “a meaningful case that proactively verified the feasibility of using won stablecoins for payment and settlement,” adding that the bank plans to expand financial innovation built around won stablecoins.
Commercial deployment depends on South Korea’s evolving regulatory framework for fiat-backed tokens. The companies said additional technical validations would align with the timing of future rulemaking.
AlphaScala data: Mastercard (MA) holds an Alpha Score of 66/100, rated Moderate, in the Financials sector. Global Payments Inc (GPN) scores 32/100, rated Weak, in Industrials. Neither company was involved in the pilot.
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