South Korean firm Coocon is expanding its global payment platform by incorporating stablecoin technology and leveraging its established domestic payment infrastructure. The company aims to create a global payment distribution network with various payment methods and stablecoin integration. This infrastructure enables real-time cross-border payments without traditional currency exchange, making transactions easier in Korea. Coocon’s expansion plans include launching UnionPay services in September and WeChat Pay in October, with a partnership with Bank Indonesia to extend services. The company is also focusing on the stablecoin sector to further enhance its global payment capabilities. Coocon CEO Kim Jong-hyun emphasized the importance of the company’s data collection and connectivity capabilities, along with its payment infrastructure, for global payment companies entering the Korean market. Coocon plans to participate in the Singapore Fintech Festival in November to seek partnerships with global payment and stablecoin entities, aiming to strengthen its presence in the Asian fintech market. Additionally, Coocon manages ‘Coocon.net’, Korea’s business data platform, which aggregates data from various domestic and international institutions, offering more than 300 APIs.

Read more at Yahoo Finance: South Korean firm COOCON expands global payment platform