South Korean digital asset exchange Bithumb has signed a MoU with Circle, the issuer of USDC, to cooperate on digital asset infrastructure and stablecoin technology.

According to the Korea Herald, the partnership aims to expand the footprint of the US dollar-pegged stablecoin in the local market.

The agreement was reached during a visit to Seoul by Circle CEO Jeremy Allaire, who is engaging with local financial institutions and regulators.

Under the agreement, the two companies will jointly review technology integration measures on the Bithumb platform. These include the implementation of multi-chain functionality and the development of infrastructure to support stablecoins.

The partnership also includes initiatives to deepen the local market’s understanding of the stablecoin and digital asset ecosystem.

Bithumb noted that the MOU lays the groundwork for a more transparent and regulation-friendly digital asset environment in South Korea.

“This MOU marks an important milestone in strengthening our cooperation with Circle and advancing the digital asset infrastructure on our platform,”

a Bithumb official said.

The exchange indicated it will continue to support market development in line with local regulatory standards.

A Circle official also welcomed the agreement, saying,

“We are pleased to work with Bithumb to explore opportunities in digital-asset infrastructure and stablecoin technology in the Korean market.”

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