Cheonggus Selected for '2026 Busan Blockchain Enterprise Commercialization Support Project'

Building Stablecoin-Based Payment and Settlement Infrastructure for Export Transactions
Demonstration of Custody and Won Settlement Structure in Partnership with KDAC

Cheonggoose has been selected for the "2026 Busan Blockchain Enterprise Commercialization Support Project" and is promoting the establishment of a stablecoin-based export payment overseas settlement infrastructure. (Photo by Cheonggoose)

Devall Company, which operates the B2B billing and collection automation service 'Cheonggus', was officially selected on July 20 as one of the companies for the '2026 Busan Blockchain Enterprise Commercialization Support Project.' Devall Company announced that it would use this support project to further advance its services leveraging blockchain technology and to expand its business in earnest.

Through this project, Devall Company will build a payment and receipt infrastructure that enables exporting SMEs to receive overseas payments in stablecoins and settle them in won. The company plans to develop this system in collaboration with the digital asset custody specialist KDAC, so that exporters do not need to directly hold or manage virtual assets themselves.

The envisioned payment structure is as follows: when an exporter sends an invoice abroad through Cheonggus, the overseas buyer remits stablecoins such as USDC to a KDAC custody wallet. Cheonggus will automatically match the blockchain deposit details to the invoice, and KDAC will convert the received digital assets into won for settlement in the exporter's bank account. Afterward, Cheonggus handles post-settlement work, such as issuing electronic tax invoices and updating the dashboard.

Cheonggus is a B2B SaaS platform that automates processes such as invoice dispatch, deposit verification, accounts receivable management, and electronic tax invoice issuance. It offers various payment methods, including card payments, virtual accounts, CMS, and Giro. In cases of long-term delinquency, it also supports legal notifications, credit checks, and receivables collection procedures.

The company is primarily targeting exporters in IT, SaaS, design, and content sectors where small-value transactions occur frequently. Devall Company explained that these businesses face relatively high burdens from remittance and currency conversion fees, as well as settlement delays, due to the small amounts involved in each transaction and the traditional international wire transfer process.

It is expected that if companies can secure transparent and immediate cash flows, the global business competitiveness of domestic SMEs and startups seeking to expand overseas will be significantly enhanced.

Devall Company plans to test how using stablecoins and a blockchain ledger can reduce international remittance costs and settlement times, as well as facilitate tracking of payment flows. The precise cost savings and scope of application will be verified during the course of the project.

The company will also review relevant regulations, including the Foreign Exchange Transactions Act and anti-money laundering systems. It intends to ensure asset custody and transaction security by reviewing its operational structure with legal counsel and assigning KDAC responsibility for custody, won conversion, and anti-money laundering work.

According to the company, clients adopting Cheonggus saw long-term delinquency decrease by 83.3 percent and bad debt losses fall by 75 percent. The payment processing period was reduced by 19 days, and the time spent on accounts receivable management dropped by 79 percent. These figures were calculated based on Cheonggus’s corporate clients.

Janggyu Lee, CEO of Devall Company, said, "We will collaborate with KDAC to build a stablecoin payment infrastructure so that exporting SMEs can more quickly and cost-effectively settle overseas payments in won," adding, "Based on legal review and our custody partnership, we will conduct a pilot in the Busan Blockchain Regulation-Free Special Zone."

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