[Click e Stock] "Hecto Financial Accelerates Transition to Global Payment Infrastructure Provider"

On April 13, ValueFinder stated that Hecto Financial is expected to see steep growth in the first quarter of this year, particularly in simple payment and cross-border settlement revenues.

ValueFinder researchers Choongheon Lee and Sohyun Hong said in a report released the same day, "The company is the leading domestic operator in account-based easy cash payments with an estimated market share of about 70%, and it has infrastructure connected to 23 banks, including all major banks in Korea." They added, "This competitive edge has been recognized, allowing the company to join the Circle Payments Network (CPN), the only such network in Korea."

On a consolidated basis, Hecto Financial recorded annual revenue of 187.4 billion won last year, up 17.7% from the previous year. Operating profit increased by 17.2% to 15.6 billion won, while net income decreased by 1.7% to 8.8 billion won. The decline in net income was the result of recognizing 10.2 billion won in goodwill impairment from a subsidiary. This year, the company expects improved profitability due to reduced amortization expenses.

The analyst stated, "Even if the market for stablecoins opens later than anticipated, joining the CPN is expected to positively impact the company's profitability by providing important references." He added, "The company already provides cross-border services to global e-commerce businesses, as well as game companies and airlines, and the number of partners continues to increase steadily."

This content was produced with the assistance of AI translation services.