NHN Expands Blockchain Focus with Stablecoin Business Plans

NHN, a South Korean conglomerate, is expanding its focus on blockchain and digital assets. The company has identified blockchain, Web3, and digital assets as core new business areas and is drawing up a group-wide strategy.

The strategy includes exploring the possibility of launching a Korean won stablecoin business, which would be led by payments affiliate NHN KCP. This move would allow the group to build a distribution and payments ecosystem using its affiliates.

NHN has set up a new business office that oversees new businesses across the group, with a focus on blockchain and digital assets. The company is also preparing to obtain a virtual asset service provider (VASP) license, which it hopes to secure within the year.