Fashion Group Hyungji partners with Arbitrum for stablecoin payments

South Korean apparel company Fashion Group Hyungji has signed a Memorandum of Understanding (MOU) with the Arbitrum (ARB) Foundation, an Ethereum Layer 2 network, to build a stablecoin-based digital payment infrastructure, EToday reported on Jan. 23. The company plans to introduce stablecoin payments across its domestic and international distribution networks to enhance convenience and lower transaction fees.