NHN KCP Pursues Avalanche-Based Mainnet for Payments

Suehyeon Lee

Summary

NHN KCP said it is moving to build a next-generation payment infrastructure using blockchain technology.
NHN KCP said it plans to work with Ava Labs, the developer of Avalanche (AVAX), to build a payment-focused mainnet.
The companies said they plan to build a payments-only mainnet based on AvaCloud and expand cooperation in digital commerce, including a tokenized deposit model and settlement structures using multiple stablecoins.

Forecast Trend Report by Period

NHN KCP is moving to build a next-generation payment infrastructure using blockchain technology.

Yonhap News reported on May 14 that NHN KCP plans to work with Ava Labs, the developer of Avalanche (AVAX), to build a payment-focused mainnet.

Avalanche is an open-source platform that allows users to build independent blockchain networks based on high processing speeds and scalability. Its use cases have been expanding in global finance and enterprise sectors.

The two companies plan to develop a payments-only mainnet using Ava Labs' AvaCloud technology. NHN KCP will lead architecture design based on its experience operating payment systems, while the partnership will center on linking the network with existing payment infrastructure.

They aim to build a payment network that combines fast payment approvals with on-chain encryption technology and to create an ecosystem that provides the infrastructure in a customized form for merchants.

The companies also plan to expand their cooperation into digital commerce, including tokenized deposit models, settlement structures using multiple stablecoins, and global business-to-business payments and settlements.

AVAX