Oakland, San Francisco, California, USA, October 22nd, 2026 - Square Tech announced that it has signed a Memorandum of Understanding (MOU) with GOAT Network, with DAC Labs joining the agreement to provide technical support, to explore AI agent-powered stablecoin payment services in South Korea as part of Square Tech's Digital Solutions business.
The collaboration is oriented around integrating GOAT Network's agentic payment infrastructure into a stablecoin payment program that Square Tech is developing with Lordsystem, a South Korean mobile identity verification company. The initial priority is a program aimed at foreign tourists, enabling identity verification with mobile passports and enabling payments at participating merchants using US dollar-denominated stablecoins.
Under the terms described in the MOU, Square Tech will lead domestic business development, merchant partnership efforts, and engagement with regulators in South Korea. GOAT Network will supply its AI agent payment technology and underlying network infrastructure. DAC Labs will support technical integration, security reviews, and network operations.
The partners said they will also evaluate potential extensions of the program to other consumer services, including purchases of digital gift cards and vouchers, but any such expansion will depend on compliance with applicable legal and regulatory requirements in Korea.
Technical design and safeguards
The planned solution is described as incorporating multiple technical safeguards intended to promote trust, security, and transparency when AI agents execute payments on behalf of users. The companies said each AI agent would be assigned a verifiable on-chain identity based on the ERC-8004 standard. Additional protections cited include spending limits, user authorization mechanisms, and comprehensive transaction records designed to enable transparent monitoring of AI agent payment activity.
In its initial phase, the initiative will support US dollar-denominated stablecoins through arrangements that meet applicable licensing and regulatory requirements. The partners also plan to create the technical foundations necessary to support Korean won-denominated stablecoins in the future, contingent on the evolution of South Korea's digital asset regulatory framework.
Regulatory context
The agreement comes amid active regulatory developments in South Korea. The article notes that the country's AI Basic Act, formally titled the Act on the Development of Artificial Intelligence and Establishment of a Foundation for Trust, took effect in January 2026. At the same time, the National Assembly is considering a proposed Digital Asset Basic Act intended to establish a framework for digital assets, including Korean won-denominated stablecoins.
Square Tech and its partners said they intend to comply with South Korean statutes including 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. Where appropriate, the companies stated they will work with licensed service providers to deliver the proposed services. The partners also emphasized that consumer-facing features will be introduced in phases, subject to legal and regulatory review.
Demonstrations and market signals
At Korea Blockchain Week 2026 in Seoul, GOAT Network exhibited an interactive agent-powered purchasing experience that the companies said highlighted early consumer interest in AI-driven commerce. Square Tech's collaboration with GOAT Network is presented as a step toward adapting these agentic capabilities for real-world payment use cases.
Executive statements
Kangho Kim, CEO of Square Tech, said: "South Korea is rapidly establishing the regulatory foundations for AI and digital assets. The next important step is translating these developments into practical services that consumers and merchants can use. Through this collaboration, Square Tech aims to integrate global technologies into South Korea’s domestic payment environment and regulatory framework, while building a new payment ecosystem that brings AI and stablecoins into everyday transactions."
Kevin Liu, Co-Founder and CEO of GOAT Network, said: "The next evolution of AI agents goes beyond understanding user requests to making purchases on their behalf. For agentic commerce to scale, businesses need to make their products and services accessible to AI agents, while consumers need assurance that purchases are authorized, spending stays within defined limits, and payments are secure. Through our collaboration with Square Tech, we aim to explore how these capabilities can support real-world commerce in South Korea."
Corporate profiles and supporting parties
Square Tech, founded in 2002 and based in Hwaseong, Gyeonggi Province, is a KOSDAQ-listed company (KOSDAQ: 148250) that manufactures LTCC components and substrates for telecommunications, defense, and automotive sectors. The company has operated on KOSDAQ since 2016 and is extending its activities into digital asset payments through its Digital Solutions business. The article notes that Square Tech is developing the foreign tourist stablecoin payment program with Lordsystem and is pursuing cooperation with Anchorage Digital on institutional digital asset infrastructure.
GOAT Network is described as Bitcoin-secured infrastructure for agentic commerce, connecting businesses, consumers, developers, and AI agents. Its core product, GOAT Flow, is intended to make products and services discoverable and purchasable by AI agents, while GOAT AgentKit provides development tools for agent-native applications. DAC Labs is identified as the core infrastructure developer for GOAT Network, with expertise in blockchain infrastructure, zero-knowledge technology, and AI agent systems.
Compliance and phased deployment
The companies reiterated their commitment to compliance with relevant Korean statutes and to phased consumer rollouts. They signaled plans to rely on licensed providers where necessary and to proceed with consumer-facing features only after legal and regulatory review. The initial commitment to US dollar-denominated stablecoins is framed as matching existing licensing approaches while allowing for potential future support for Korean won-denominated stablecoins as regulation develops.
Contact
COO Sophia Li
GOAT Network
[email protected]
Reporting by Avery Klein.