Square Tech and GOAT Network sign MOU on AI agent stablecoin payments
Square Tech, a KOSDAQ-listed South Korean components maker, said on 22 October 2026 that it had signed a memorandum of understanding with GOAT Network, a Bitcoin-secured infrastructure provider for agentic commerce, to explore AI agent-powered stablecoin payment services in South Korea. DAC Labs, the core infrastructure developer behind GOAT Network, has joined the agreement to provide technical support. The companies described the arrangement as part of Square Tech's Digital Solutions business.
The first stated priority is to explore integrating GOAT Network's AI agent payment technology into a stablecoin payment programme for foreign tourists that Square Tech is developing with Lordsystem, a South Korean mobile identity verification company. According to the announcement, the programme aims to let foreign visitors verify their identities using mobile passports and pay at participating merchants in US dollar-denominated stablecoins. The partners said they would also evaluate expansion into digital gift card and voucher purchases, subject to legal and regulatory review.
Under the MOU, Square Tech will lead domestic business development, merchant partnerships and regulatory engagement. GOAT Network will supply its AI agent payment technology and network infrastructure, while DAC Labs will support technical integration, security reviews and network operations. The companies said each AI agent would be assigned a verifiable on-chain identity based on the ERC-8004 standard, alongside spending limits, user authorisation mechanisms and transaction records. They plan to support US dollar-denominated stablecoins initially through arrangements meeting applicable licensing requirements, and to build the technical foundation for potential Korean won-denominated stablecoin support as the regulatory framework evolves.
The announcement points to South Korea's developing rules for artificial intelligence and digital assets. The AI Basic Act came into effect in January 2026, and the National Assembly is discussing a proposed Digital Asset Basic Act that would establish a framework for digital assets, including won-denominated stablecoins. The companies said they intend to comply with the Electronic Financial Transactions Act, the Virtual Asset User Protection Act, the Foreign Exchange Transactions Act and the Act on Reporting and Use of Certain Financial Transaction Information, and would work with licensed providers where necessary. Consumer features are to be introduced in phases, subject to legal and regulatory review.
Kangho Kim, chief executive of Square Tech, said South Korea is rapidly establishing regulatory foundations for AI and digital assets, and that the next step is translating them into services consumers and merchants can use. Kevin Liu, co-founder and chief executive of GOAT Network, said agentic commerce requires that businesses make products accessible to AI agents while consumers are assured purchases are authorised, spending stays within limits and payments are secure. GOAT Network demonstrated agent-powered purchasing at Korea Blockchain Week 2026 in Seoul, the announcement said.
