[Market Focus] Hecto Financial Shines Globally with Stablecoins; Expands B2B Payments with Amazon, Meta, and More

Hecto Financial is showing strong performance. As stablecoin-related stocks have surged across the domestic stock market, securities firms' analyses suggesting that securing stablecoin payment methods could accelerate the growth of overseas B2B payment businesses appear to be influencing the stock price. Hecto Financial is the only fintech company in Korea that possesses the source technology for all payment methods. It offers customized payment services to client companies, including simple cash payments, credit cards, and mobile payments.

Hecto Financial is currently providing, or planning to provide, settlement and payment services with global e-commerce and platform companies such as Amazon, AliExpress, Meta, and Steam, and is actively expanding its overseas B2B payment service business. The number of overseas service merchant launches is rapidly increasing, with 6 in 2023, 11 in 2024, and 25 planned for 2025.

As of 2:50 p.m. on June 24, Hecto Financial was trading at 31,100 won, up 17.36% from the previous day.

KB Securities analyzed that if Hecto Financial secures stablecoin payment methods, the growth of its overseas cross-border remittance and B2B payment businesses is expected to accelerate further.

Kim Hyungyeom, a research analyst at KB Securities, explained, "Recently, Hecto Financial signed an MOU for a technology partnership on stablecoin payment systems with Hi5Lab, a blockchain security company with the largest track record of proof-of-concept in Korea." He added, "By adding stablecoin payment methods to its existing strengths in payment, prepaid charging, and local currency businesses, this is seen as a proactive measure to enhance the stability and reliability of payment services."

Kim also stated that Hecto Financial is "currently in discussions for partnerships in payment and distribution with domestic and overseas stablecoin operators" and is "rapidly establishing overseas subsidiaries in countries such as Japan, where a revised Payment Services Act specialized for stablecoins is in effect."

On June 17, the U.S. Senate passed the 'GENIUS' Act, a regulatory bill for stablecoins. In Korea, the Democratic Party has proposed the 'Digital Asset Basic Act,' which includes allowing the issuance of won-based stablecoins, marking the beginning of a national strategy to foster digital assets.

Recently, Hecto Financial sold 700,000 treasury shares to raise funds for investment in new businesses. The company is pursuing the establishment of overseas subsidiaries, including in Japan, to expand its global business. In relation to its stablecoin business, it has signed a business agreement with Hi5Lab, a blockchain security firm with the largest proof-of-concept record in Korea, for a technology partnership on stablecoin payment systems. Hecto Financial is accelerating the push for new business initiatives.