Hecto Wallet One Signs Four-Party MOU for Stablecoin Payment PoC

Infrastructure is expected to be established that will allow game items to be traded through the transfer of stablecoins between digital asset wallets.

On June 8, Hecto Wallet One announced that it had signed a four-party memorandum of understanding (MOU) with the global Web3 marketplace Overtake, Korea's leading game item trading platform ItemBay, and the next-generation global Layer 1 blockchain Sui.

This agreement was pursued to break down national barriers in game asset trading and standardize a secure blockchain payment environment. In anticipation of the institutionalization of stablecoin payments and settlements, the parties plan to proactively review operational processes required in real service environments, regulatory compliance systems, user protection mechanisms, and settlement flows. Through this, they aim to closely identify various trial and error that may arise during the introduction of digital asset-based payment infrastructure and to gradually establish a practical foundation for stable commercialization.

Hecto Wallet One will provide its "OhHi Wallet" to ItemBay to establish the necessary infrastructure. OhHi Wallet is an enterprise in-app wallet implemented in the form of a webview within a client company's existing app or service. Hecto Wallet One, which holds a Virtual Asset Service Provider (VASP) license, carries out supervision in accordance with regulations, enabling service implementation with minimal resources.

Leveraging its large-scale transaction traffic and operational know-how, ItemBay will support the use of the US dollar-based stablecoin "USDC" for item trades between platform users via OhHi Wallet. Overtake will support global expansion through the inflow of overseas users and platform integration, while the global blockchain network Sui will provide the mainnet infrastructure that boasts fast processing speed and low transaction fees, supporting payments with stablecoins such as USDC.

A representative from Hecto Wallet One stated, "We will combine the capabilities of each company to build B2B digital asset wallet and payment infrastructure in strict compliance with VASP regulations."

This content was produced with the assistance of AI translation services.