Preparing a Convenient Payment Service with Stablecoin for Domestic Offline Merchants and ATMs, “[Edaily Reporter Kim Areum] Business data platform company Kookon (294570) announced on the 7th of this month that it is gearing up to establish the core infrastructure for the stablecoin ecosystem in preparation for the implementation of the Phase 2 Digital Asset Act in 2025.”
Kookon is a key infrastructure company providing open banking APIs and authentication APIs to major fintech services such as Toss, KakaoPay, Upbit, and Bithumb, and boasts an API network with over 500 financial institutions. The increase in transaction volumes of these companies directly correlates with Kookon’s revenue growth, thus the expansion of the stablecoin market is expected to lead to structural benefits for Kookon.
Kookon predicts that its API infrastructure, which has been established over a long period, will further demonstrate its value as a core asset with the spreading adoption of stablecoins. They plan to enhance their role as a trusted technology partner in the stablecoin market by leveraging their proven infrastructure capable of handling inter-platform data integration and surges in transaction processing, along with a stable revenue structure.
In August, Kookon will introduce a global easy payment service by partnering with leading global easy payment platforms such as UnionPay, WeChat Pay, Liquid, and Alipay, allowing foreign tourists to easily use existing payment services at domestic merchants. Additionally, Kookon is set to actively expand its global payment and settlement service business by targeting major fintech hub markets in Asia, such as Singapore, Japan, and Indonesia.
As stablecoin implementation becomes more established, Kookon is expected to play a key role in the stablecoin ecosystem by providing QR-based real-time payment and withdrawal services utilizing its infrastructure of over 2 million offline merchants and more than 40,000 ATMs across the country. Currently, Kookon is actively discussing strategic partnerships in the payment and distribution sectors with major domestic and international stablecoin companies, and is rapidly advancing new projects centered around a corporate-wide ‘Stablecoin Committee.’
In the second half of this year, Kookon plans to accelerate securing new growth drivers by expanding its data business, enhancing the overseas payment sector, targeting the local currency market, and focusing on new technology-based business models such as AI and stablecoins.
Kookon’s CEO Kim Jonghyun stated, “2025 marks a turning point with the institutionalization of payment-use stablecoins,” and added, “As the global stablecoin market cap is expected to grow to $2 trillion by 2028, Kookon will play a vital role as a representative infrastructure company enjoying the structural benefits of this market growth.”