Coupang and Woori Bank have completed Korea’s first end-to-end proof of concept for KRW stablecoin payments and settlement in a consumer-facing commercial service. Built on Tempo, the test followed a Coupang Eats order from payment through real-time onchain merchant settlement and conversion between stablecoins and fiat currency.
US technology company Coupang and Woori Bank have completed Korea’s first end-to-end proof of concept for KRW stablecoin payments and settlement in a commercial consumer service.
Built on Tempo, the PoC tested how orders placed through Coupang Eats could be settled to merchants in real time using a KRW-denominated stablecoin. Woori Bank provided the on-ramp and off-ramp functionality, connecting digital wallets with bank accounts to convert between stablecoins and fiat currency.
This shows how stablecoins can connect consumer payments, merchant settlement, and existing banking infrastructure in a single commercial workflow.
From a Coupang Eats order to merchant settlement
The PoC covered multiple payment scenarios through Coupang Eats. After an order was placed, the merchant received settlement in a KRW-denominated stablecoin on Tempo, while Woori Bank enabled conversion between the stablecoin and fiat currency through linked bank accounts.
Together, these steps created an end-to-end flow from a consumer payment to real-time onchain settlement and bank-led conversion.
Coupang has participated in Tempo as an early strategic partner and investor, which is part of Coupang’s efforts to redefine the future of global commerce through advanced technologies. Through the PoC, the company tested how a payments-first blockchain could meet the scale, reliability, and operating requirements of a commercial service.
Improving cash flow for merchants
Merchant settlement can take anywhere from several days to several weeks after a customer pays. For small and medium-sized businesses, that delay ties up working capital and can increase financing costs.
Stablecoin-based settlement can shorten that cycle. Settling the onchain leg in real time gives merchants faster access to funds and lets them put working capital back into the business sooner.
For commerce platforms, faster settlement can improve the merchant experience while reducing the operational friction created by delayed payouts.
“We will continue leveraging innovative technologies, including stablecoins, to enhance customer value while advancing inclusive financial services that create greater opportunities for our merchant partners.”
– Coupang spokesperson
Stablecoins in commercial services
Tempo is a Layer 1 blockchain purpose-built for stablecoin payments at scale. It provides near-instant settlement with no re-orgs and sub-cent fees. This means payment platforms can move value around the clock while keeping settlement fast and costs low.
The Coupang and Woori Bank PoC shows how those onchain capabilities can connect to the financial system people and businesses already use. Coupang managed the commercial payment experience on top of Tempo’s settlement layer, while Woori Bank connected stablecoin balances to bank accounts and fiat currency. The result is a practical model for bringing stablecoin payments into everyday commerce.
“Seeing Coupang and Woori Bank test a complete merchant payment flow together is a clear signal that stablecoins are moving into everyday commerce. We’re excited to see Tempo provide the settlement layer for these payment flows to work seamlessly.”
– Nischay Upadhyayula, GTM, Tempo
What’s next
Coupang and Woori Bank have entered a strategic partnership to deepen their collaboration on blockchain-based payment technology. The companies plan to continue conducting technology validations as Korea’s regulatory framework for digital assets develops.
“This PoC represents a meaningful milestone in proactively validating the use of KRW stablecoins for payments and settlement. We will continue expanding financial innovation built on KRW stablecoins as the market and regulatory environment evolves.”
– Woori Bank spokesperson
By connecting a major commerce platform and a major bank through a real consumer payment flow, the PoC gives merchants a path to faster access to funds and offers payment platforms and financial institutions a practical model for bringing stablecoins into commercial services.
If your team is evaluating stablecoin payment and settlement infrastructure, get in touch with Tempo →.
