[Click e-Stock] "Kukon Expanding Global Payment and Stablecoin Businesses"

Independent research firm GL Research analyzed on September 4 that expectations are rising for Kukon's expansion into global payments and stablecoin-related new businesses. The firm did not provide an investment opinion or target price.

Kukon is a specialized data and payment service company that operates a data API platform, a mobile QR payment network, and a Korean won withdrawal ATM infrastructure. Currently, it is connected with around 500 domestic institutions and over 2,000 financial institutions in 40 countries worldwide, offering more than 50,000 types of data and over 300 API products.

Park Changyun, a researcher at GL Research, stated, "Kukon is upgrading its payment and withdrawal services through partnerships with domestic and international payment companies, while simultaneously building online and offline payment networks that include stablecoins." He added, "The company plans to respond to settlement demands from global e-commerce and multinational corporations. Furthermore, its goal is to evolve into a next-generation global payment platform that encompasses both traditional payment methods and stablecoins."

The opening of the global payment platform is also expected to accelerate Kukon's payment service growth. Park emphasized, "In the second half of the year, Kukon plans to strengthen marketing of its payment services to major institutions such as local currency operators, travel platforms, big tech firms, and savings banks. By launching the global payment platform, the company will sequentially expand partnerships with institutions such as UnionPay and WeChat Pay this month, and Naver Pay within the year, thereby responding to the payment needs of foreign customers."