[Market Focus] NHN KCP Hits Record High on Outlook as Top Stablecoin Beneficiary

NHN KCP is showing strong performance in early trading.

As of 9:03 a.m. on July 9, NHN KCP was trading at 13,580 won, up 17.07% (1,980 won) from the previous day. At one point during the session, the stock soared to 13,630 won, marking a new 52-week high.

The surge in investor sentiment appears to be driven by securities industry analysis suggesting that NHN KCP will emerge as the biggest beneficiary, thanks to its overwhelming dominance and performance compared to other companies in the stablecoin issuance sector.

Choi Jaeho, a researcher at Hana Securities, stated, "Given the nature of electronic payment providers, which have hundreds of thousands of affiliated merchants, NHN KCP is likely to handle direct distribution after the issuance of stablecoins." He added, "Currently, payment service providers pursuing stablecoin businesses have yet to issue any coins. If we compare their progress, NHN KCP, as the leading payment service provider in terms of transaction volume and number of merchants, stands to benefit the most."

NHN KCP is a specialized online and offline electronic payment company, providing easy payment services such as Payco and KCP Pay through its subsidiary NHN Payco. Last month, the company applied for trademarks for a total of 11 types of stablecoins, including KRWPS, KSKOR, and KSKRW.