[South Korean Payment Service Provider NHN KCP to Build Its Own Layer-1 Blockchain on Avalanche] According to a report by Jinse Finance, on April 14, South Korean payment service provider NHN KCP signed a memorandum of understanding (MOU) with Ava Labs to collaborate on developing a layer-1 blockchain network focused on the payment sector. NHN will work with Avalanche's development team to leverage Ava Cloud (a service under Ava Labs that helps enterprises build and manage their own layer-1 blockchains) to create a mainnet tailored for real-world payment scenarios. According to a statement released by both parties to The Block, the collaboration will focus on three core areas: ultra-fast payment authorization with sub-second processing, on-chain encryption of transaction data, and a customizable payment ecosystem infrastructure for merchants. The two companies plan to validate the technical feasibility of the project through a proof-of-concept initiative and expand partnerships with global financial and payment enterprises.