BDACS and Chungoose to Build B2B Stablecoin Infrastructure for Global Trade

Co-developing a cross-border settlement system allowing exporters to receive USDT/USDC and settle in fiat KRW.
BDACS handles institutional custody; Chungoose automates billing, matching, and compliance.
Exporters can seamlessly process payments without holding digital assets on their balance sheets.

How the Partnership Works

BDACS, South Korea’s leading digital asset custodian, has partnered with Devall Company, operator of the B2B receivables SaaS “Chungoose.” Together, they are building a stablecoin-based B2B cross-border settlement infrastructure, combining digital asset capabilities with automated receivables to embed stablecoins into real-world international trade.

This initiative creates a seamless “billing-payment-settlement” loop for exporters. When an exporter issues an invoice via Chungoose, overseas buyers pay using stablecoins like USDT or USDC. BDACS secures these assets in custody and settles the final amount in fiat KRW. This allows exporters to receive international payments without the regulatory burden of directly holding digital assets.

Divided Roles: Custody, Invoicing, and Verification

Roles are clearly divided: BDACS oversees stablecoin custody, while Chungoose handles invoicing, deposit verification, and electronic tax documents. This joint solution aims to slash traditional cross-border transaction fees, accelerate settlement times, and enhance transparency. Both partners will validate these benefits through phased validation processes with domestic enterprises.

Through this process, the partners expect to bridge on-chain transactions with off-chain finance using BDACS’s KRW stablecoin, “KRW1,” thereby validating the utility of stablecoins as a core settlement infrastructure. Furthermore, this initiative paves the way for a real-world environment where stablecoins remitted by overseas buyers drive cross-border value transfers and real-time settlements via KRW-pegged assets like KRW1.

Linking Digital Assets to Real Finance

Looking ahead, BDACS and Devall Company plan to integrate stablecoin settlement data directly into corporate ERP systems, automating accounting processes without manual entry. These integrations will advance in strict compliance with evolving domestic regulations, including the Foreign Exchange Transactions Act.

Chungoose automates the entire accounts receivable lifecycle, from invoicing to e-tax issuance. By diversifying payment options, it accelerates cash recovery. Internal data shows Chungoose has reduced long-term delinquency rates by 83.3% and bad debt ratios by 75% for its clients.

Executive Commentary

“The shift toward stablecoins as the primary medium of exchange and blockchain as the ultimate settlement layer is becoming a reality first in cross-border trade,” said Harry Ryoo, CEO of BDACS. “By enabling seamless stablecoin collection and KRW settlement starting from a single invoice, we are making exporters the primary beneficiaries of this financial evolution.”

Jang-gyu Lee, CEO of Devall Company, added, “After automating domestic receivables, our next frontier is cross-border export payments. Together with BDACS, we will help exporters receive overseas funds faster, cheaper, and securely in KRW.”

About BDACS

BDACS provides institutional-grade “Prime Custody Solutions.” Surpassing 80 billion KRW in Assets Under Custody (AUC) this year, it is South Korea’s leading digital asset custodian. BDACS holds SOC 1 and ISO27001 certifications, with SOC 2 underway. The firm issued the world’s first KRW stablecoin, KRW1, expanding its ecosystem with global mainnet partners like Ethereum and Avalanche, alongside strategic alliances with major institutions like Woori Bank, Circle, and Ripple.