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NHN KCP, Ava Labs Plan Payments-Focused Layer 1 Network on Avalanche

NHN KCP, Ava Labs Plan Payments-Focused Layer 1 Network on Avalanche

NHN KCP and Ava Labs state that their planned Avalanche-based payments network will target faster authorization, encrypted on-chain transaction handling and merchant customization, with launch timing tied to pending South Korean crypto legislation.

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Fact Check
The claim is well aligned with the fetched KuCoin page, "NHN KCP and Ava Labs to Build a Payment-Focused Layer 1 Blockchain | KuCoin," which explicitly describes the same three technical targets: fast or sub-second payment authorization, encrypted on-chain transaction data, and customizable infrastructure for merchants, and also says launch timing depends on South Korea's crypto regulatory progress. The Odaily link traces directly to The Block article "South Korean payments provider NHN KCP to build own Layer 1 on Avalanche with Ava Labs," and web search results independently describe the same facts, reinforcing that this is the underlying report. However, because the The Block page itself could not be fetch-validated in this run and no official NHN KCP or Ava Labs statement was successfully fetched from the provided X links, the evidence is strong but not maximally direct.
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Summary

NHN KCP and Ava Labs signed a memorandum of understanding to develop a payments-focused Layer 1 network on Avalanche using Ava Cloud. The proposed network is designed for real-world payment use cases in South Korea, including sub-second payment authorization, on-chain encryption of transaction data and customizable infrastructure for merchants. According to the announcement, the project’s launch will depend on whether pending South Korean crypto regulation is passed.

Terms & Concepts
  • Layer 1 network: A base blockchain that processes and secures transactions directly on its own chain rather than relying on another network.
  • Avalanche: A blockchain platform built for fast transaction finality and customizable networks, including application-specific chains.
  • Ava Cloud: Ava Labs’ managed service for deploying and operating custom blockchain networks on Avalanche.