On April 14, South Korean payment service provider NHN KCP signed a memorandum of understanding with Avalanche development team Ava Labs to jointly create a Layer 1 blockchain network aimed at real payment scenarios. This network will be built on Ava Labs' Ava Cloud service, which is designed for enterprises to independently deploy and manage L1 blockchains. According to both parties, the collaboration will focus on three core areas: sub-second ultra-fast payment authorization, on-chain encryption of transaction data, and a customizable payment ecosystem for merchants. The two sides plan to first confirm technical feasibility through a proof-of-concept project before expanding cooperation to global financial and payment institutions. Justin Kim, head of Ava Labs Asia, revealed that the official launch date of the new L1 network will largely depend on the progress of cryptocurrency regulatory frameworks in South Korea. In addition to infrastructure development, NHN and Ava Labs will also explore new digital business opportunities such as tokenized deposit models, multi-stablecoin settlement architectures, and cross-border payments. Previously, one of South Korea's largest credit card companies, KB Kookmin Card, announced last month a partnership with Avalanche to develop a hybrid stablecoin payment model that connects credit cards with digital wallets, allowing users to utilize both stablecoins and credit limits on existing credit cards.