South Korean payment service provider NHN KCP has partnered with Ava Labs to develop a Layer 1 blockchain network focused on payment solutions. The collaboration aims to leverage Ava Cloud to achieve sub-second payment confirmations, encrypt on-chain transaction data, and offer customizable merchant payment infrastructure. Additionally, the partnership will explore tokenized deposit models, multi-stablecoin settlements, and cross-border payment solutions. The timeline for the mainnet launch will be influenced by South Korea's evolving cryptocurrency regulations, according to Justin Kim, Head of Asia at Ava Labs.