NetStars and Canton Foundation Reach Basic Agreement on Collaboration for Social Implementation of Web3 Payments

NetStars Co., Ltd. (Headquarters: Chuo-ku, Tokyo; President and CEO: Kang Li; hereinafter "NetStars") has entered into a Memorandum of Understanding (MOU) with Canton Foundation (hereinafter "Canton"), the operator of "Canton Network," a blockchain infrastructure designed as a "network of networks" to connect decentralized systems operated by each participant, to collaborate on the promotion of Web3 payments, including stablecoins.

Canton endorses NetStars' "StarPay-X" initiative, a gateway concept connecting the Web2 and Web3 financial worlds, and is one of its technical study partners. This MOU establishes a framework for lectures and discussions aimed at bridging new financial functions brought by Web3 to Web2, leveraging the technical characteristics of both companies to envision the penetration of real-world digital payments.

(Right) Thomas Chou, Head of APAC, Canton Foundation; (Left) Kang Li, President and CEO, NetStars Co., Ltd.

NetStars' "StarPay-X" initiative aims to create an environment where users and usage scenarios can be flexibly chosen, extending existing cashless payment systems without being dependent on specific Web3 technologies or services.

Canton, as a blockchain infrastructure that prioritizes privacy and compliance, intended for use by financial institutions, aims for practical application in areas such as payments and sees new possibilities in the concept of payments bridging Web2 and Web3 advocated by StarPay-X.

Both companies have signed this MOU to explore the possibilities of future collaboration.

This MOU does not currently promise specific service provision or implementation. Moving forward, through this partnership, the companies plan to accelerate the development of schemes for concrete service provision.

Comment from Thomas Chou, Head of APAC, Canton Foundation

"Together with NetStars, we will develop blockchain into practical solutions that can be used for everyday payments. We look forward to your continued support."

Comment from Kang Li, President and CEO, NetStars Co., Ltd.

"We are delighted that Canton has endorsed the 'StarPay-X' concept. With this MOU as a catalyst, we will advance discussions for the social implementation of Web3, including the perspective of multi-wallets."

Company Overview

Canton Foundation

Canton Foundation is an independent non-profit organization responsible for governance and long-term development of the shared infrastructure of Canton Network. It supports transparent decision-making, ecosystem-wide collaboration, and cooperation among Global Synchronizer operators and network participants. This ensures that Canton Network continues to be an infrastructure that combines reliability, fairness, and sustainability as a blockchain infrastructure for institutional investors.

NetStars Co., Ltd.

NetStars is a payment service company that provides integrated payment solutions, primarily its multi-cashless payment solution "StarPay," along with QR code payments, various electronic payments, and related DX services. It offers a system that allows for the integrated introduction and operation of diverse domestic and international payment methods, contributing to improved convenience for merchants and the development of a cashless society.