"Stablecoin Blue Chip" Analysis… NHN KCP, up 40% in Three Days, Remains Strong

Korea Economic Daily

Summary

NHN KCP was highlighted by the securities industry as the blue chip for stablecoins, reporting a 40.15% rise over three days.
Choi Jae-ho, a research analyst at Hana Securities, stated that NHN KCP, as the leading payment provider, is likely to be the biggest beneficiary in the stablecoin business.
NHN KCP’s application for trademarks on 11 types of stablecoins is drawing market attention and driving a continued rise in its stock price.

NHN KCP (formerly NHN Korea Cyber Payment), listed as the “blue chip for stablecoins” in the securities industry, continues its strength following a price ceiling the previous day.

As of 09:24 a.m. on the 10th, NHN KCP was trading at 15,540₩, up 460₩ (3.05%) from the previous day. The stock price has risen for three consecutive days from the 7th to the previous day, posting a 40.15% gain in that period.

Previously, Choi Jae-ho, a research analyst at Hana Securities, stated, “Among payment service providers pursuing stablecoin businesses, none have issued tokens yet. If you look at the status alongside NHN KCP, this company, with its top transaction volume and merchant base, stands to benefit the most,” adding, “It can be considered the leading stablecoin stock.”

Amid the surging interest in the stablecoin-related market, expectations that NHN KCP could be the biggest beneficiary seem to be supporting its stock price for a fourth straight day. Last month, NHN KCP filed trademark applications for a total of 11 types of stablecoins, including KRWPS, KSKOR, and KSKRW.

Shin Min-kyung, Hankyung.com reporter radio@hankyung.com