NHN KCP to Launch Avalanche-Based Stablecoin Payment Pilot Linked to PAYCO

NHN KCP said on May 21 that it will launch a proof of concept, or PoC, to test the viability of blockchain-based stablecoin payments.

The pilot will run on a payments-focused mainnet built in partnership with Avalanche, the global blockchain platform behind AVAX. NHN KCP plans to link the system with the PAYCO easy-pay service to test the use of stablecoin payments across online and offline environments.

In the online segment, the company will test a system within the PAYCO app that allows users to buy and sell PAYCO gift certificates using stablecoins. The trial is intended to gauge the scalability of stablecoins in online payments.

Offline, the pilot will cover food and beverage outlets inside NHN KCP's headquarters, including its cafe and cafeteria. The company plans to assess operational stability and payment efficiency in a real commercial setting.

NHN KCP said it will continue upgrading the system based on transaction data and operational experience gathered through the PoC. After the pilot is completed, it plans to share the results with financial institutions and major merchants and move forward with discussions on commercialization.

A company official said blockchain-based smart contracts will automatically carry out the merchant settlement process. The initiative goes beyond a simple technology test and is aimed at presenting a new payment standard that combines finance and blockchain while creating a broader payment experience with partners.