Sui and t’order Power Next-Gen KRW Stablecoin Payments

TLDR:

• Sui partners with t’order to bring stablecoin payments to 300,000 POS devices across Korea’s retail network.
• The partnership aims to process $350M in monthly transactions with ultra-low fees under one cent per payment.
• Small businesses may save nearly $100M annually by replacing traditional card and gateway payment fees.
• A native KRW stablecoin on Sui will enable faster, more secure transactions across Korea’s food service market.
  

Stablecoin adoption is about to get a major boost in South Korea. Sui Foundation and table-ordering platform t’order are working together to roll out a nationwide KRW stablecoin payment network. 

The collaboration will combine onchain infrastructure with real-time point-of-sale systems. The move could change how millions of consumers pay for meals and services every day. It also puts blockchain directly in front of small business owners, who often face high payment processing fees.

KRW Stablecoin Payments Set for Nationwide Rollout

According to an announcement from Sui Foundation, the deal links Sui’s blockchain with t’order’s 300,000 POS device network. 

The system will use QR codes and facial recognition payments to handle transactions. This will allow users to settle purchases in seconds with a native KRW stablecoin.

t’order currently processes about $350 million in monthly transactions, or $4.3 billion annually. By using Sui’s blockchain and Walrus infrastructure, t’order expects to lower transaction costs dramatically. 

Current card and payment gateway fees average 2.5%, but the new system aims for a cost near KRW 13 per transaction, less than a cent in USD.

The savings could be substantial. Estimates suggest small businesses may save nearly KRW 150 billion each year. This reduction could free up resources for expansion and operations, creating a stronger payment ecosystem.

Christian Thompson of Sui Foundation stated that this rollout could capture a food service market worth over 190 trillion KRW. The partnership will also improve data security and allow loyalty data to be stored onchain, ensuring integrity and reliability.

Strengthening Small Business Infrastructure

t’order has operated with a zero-fee payment gateway model since its founding. By integrating with Sui, the company aims to expand this approach nationwide. Stablecoin payments will allow merchants to settle transactions quickly and at minimal cost.

Its real-time network enables simultaneous deployment of updates to hundreds of thousands of POS devices. This capability could allow Sui-powered payments, rewards, and settlements to launch at scale almost instantly.

With more than KRW 10 trillion in cumulative transaction volume, t’order’s infrastructure provides a ready-made environment for large-scale stablecoin adoption. The collaboration with Sui places blockchain technology in daily consumer use, without requiring customers to change their habits.

A spokesperson for t’order said the company’s mission has always been to help small business owners. They emphasized that the move to blockchain-powered payments is the next step in creating a fairer and more efficient payment system.

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