NHN KCP enables 2 second stablecoin payments via Avalanche

South Korea is ushering in a new era of digital payments as leading payment platform NHN KCP launches a groundbreaking pilot for two-second stablecoin transactions powered by the Avalanche blockchain. The project is being trialed both online and in physical stores, aiming to accelerate and popularize stablecoin use through fast and secure transfers across daily purchases.

NHN KCP expands its stablecoin pilot

To evaluate the stablecoin model for everyday transactions, NHN KCP kicked off a pilot program within the company. The initiative saw stablecoin systems integrated into the Payco payment platform as well as in-store services. Nearly 700 employees at corporate headquarters have already used QR codes to buy coffee and meals, instantly completing payments with stablecoins.

Operating on an Avalanche-based blockchain, this system reduces the entire process from payment initiation to confirmation down to just two seconds. Alongside this technological leap, NHN KCP introduced a new vendor dashboard allowing store owners to track transactions without the need for technical expertise. The platform’s design closely mirrors existing credit card management systems, easing adoption by retailers.

Glossary: NHN KCP is a major South Korean payment services provider, delivering both online and offline payment infrastructure to millions of users.

Stablecoin infrastructure surges across Asia

Avalanche’s reach in Asia is broadening, with more financial institutions partnering to develop stablecoin and digital payment networks. In Japan, tech giant TIS recently deployed a multi-token issuance and transfer platform utilizing Avalanche. Meanwhile, Progmat has revealed plans to move over $2 billion worth of tokens to an Avalanche-powered system by June 2026, signaling rapid institutional adoption.

Other countries are joining the trend. SMBC is exploring the future of global stablecoin transfers, while cross-border payment pilots using Avalanche have begun in Singapore and Thailand. In Singapore, major payment firms like StraitsX, Grab, and Alipay+ are launching stablecoin-based, regulated payments platforms. In Thailand, Orbix Technology has rolled out an instant currency-exchange payment system with QR code functionality.

South Korea accelerates stablecoin adoption

With the ratio of cash transactions decreasing sharply, digital payments in South Korea are on the rise. As of 2024, cash now plays a minor role in overall consumer spending. Companies are increasingly focused on stablecoins for their speed and efficiency in daily payments, catalyzing a growing ecosystem in the country.

NHN KCP reached a total transaction volume of 51.5 trillion won across its platforms last year. Building on insights from the ongoing pilot, the company now aims to further enhance its stablecoin infrastructure. It is planning future collaborations with major corporations and financial institutions in pursuit of large-scale commercialization.

Meanwhile, regulators in South Korea continue to work on a dedicated legal framework for stablecoins and digital assets. Lawmakers are drafting fundamental legislation that will set licensing and operational standards for issuers of stable cryptocurrencies.

NHN KCP has already filed for trademarks covering a range of stablecoin products pegged to the Korean won and the US dollar. Among these new initiatives is a project called USDW, indicating the firm’s intent to expand its digital currency offerings.

NHN KCP highlighted the speed and user-friendly nature of its pilot project, noting, “Our employees are able to complete QR code payments within two seconds.”

Below is a snapshot of Avalanche-powered payment solutions being rolled out across various Asian markets, demonstrating the growing momentum behind stablecoin transactions: