[Market Focus] NHN KCP Rises on Hopes of Supplying Payment Infrastructure for Naver-Upbit Stablecoin Alliance

NHN KCP shares are showing strong performance. Expectations are rising that if Dunamu, the operator of Upbit-the largest virtual asset exchange in Korea-is incorporated as a Naver affiliate, NHN KCP could supply payment infrastructure related to stablecoins in the future.

As of 1:55 p.m. on September 25, NHN KCP shares were trading at 17,030 won, up 16.56% from the previous day.

The news that Naver will absorb Dunamu appears to have acted as a positive catalyst. According to industry sources, Naver Financial, which is majority-owned by Naver, and Dunamu are pursuing a comprehensive stock swap. Through this process, Dunamu is expected to become a wholly owned subsidiary of Naver Financial and be incorporated into the Naver Group.

NHN KCP's ongoing efforts in the stablecoin payment business, as well as its provision of the Naver Pay payment system, have also contributed to the positive sentiment. Expectations are growing that NHN KCP could supply related infrastructure to Upbit after it becomes part of Naver.

NHN KCP is a company specializing in online and offline electronic payments, and through its subsidiary NHN Payco, it has provided simple payment services such as Payco and KCP Pay. The company also offers payment systems for Naver Pay, Samsung Pay, and Apple Pay. Recently, NHN KCP filed trademark applications for a total of 11 types of stablecoins, including KRWPS, KSKOR, and KSKRW, signaling its entry into the stablecoin business.