Fypher Partners with Korea Medical Tourism Promotion Association for Digital Dollar Payment

Fypher, a digital dollar infrastructure company, is collaborating with the Korea Medical Tourism Promotion Association (KMTPA) to develop payment and settlement services for foreign medical tourists. The two parties plan to combine Fypher's dollar stablecoin infrastructure with KMTPA's network of medical institutions and medical tourism services. This collaboration aims to reduce the inconveniences of payment and overseas remittance when foreign patients utilize domestic medical services, and to develop a service that allows for tracking the movement of medical fees and deposits. Medical tourism involves high-value payments, cross-border remittances, advance deposit payments, and settlements between medical institutions and related businesses. Both parties expect to enhance the transparency of fund movements by utilizing transaction records recorded on the blockchain. They will assess on-site demand among KMTPA's member medical institutions and related businesses to identify specific collaboration tasks. Through this agreement, Fypher plans to create use cases in the domestic medical tourism sector and then expand the scope of cooperation to fit the financial environments of various Asian countries.

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