COOCON Joins Asia FinTech Alliance... "Accelerating Global Payment Business"

COOCON, a business data platform company, announced on April 21 that it has joined the Asia FinTech Alliance (AFA), the largest fintech consortium in Asia, as an alliance member.

COOCON joined the "Asia Fintech Alliance," which includes participation from 15 countries, to establish a foothold for expanding its global business. COOCON

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COOCON presented its vision to accelerate the expansion of global partnerships spanning across Asia.

The AFA is a consortium in which fintech associations from 15 Asian countries, including Korea, Singapore, Japan, Taiwan, Indonesia, Malaysia, Thailand, and India, participate. Its goals are to promote fintech innovation, expand financial inclusion, and enhance connectivity among Asian fintech ecosystems. The organization is regarded as a leading regional alliance that supports sharing regulatory trends in each country and facilitates networking among industry leaders.

The AFA operates on a structure where alliance membership is granted not to individual companies but through each country's association. COOCON joined the AFA through the Korea Fintech Industry Association.

COOCON expects that this membership will create synergies with the company's global payment business expansion strategy. The company is advancing its global payment infrastructure capabilities by integrating with major global payment providers such as WeChat Pay, UnionPay, and QRIS-the standard QR payment system in Indonesia.

COOCON has set a goal to form partnerships with over 50 global payment companies in 20 countries worldwide, including key regions in Asia. In particular, by leveraging the AFA network, COOCON plans to actively identify opportunities for collaboration with promising Asian companies and further solidify its position within the global payment ecosystem.

Additionally, COOCON plans to establish a Singapore subsidiary within the year to serve as a strategic hub for the Asian market and gradually expand its global business from this base. By utilizing the network secured through AFA, the company will create a payment infrastructure cooperation model optimized for local environments and strengthen its role as a key infrastructure partner supporting overseas payment companies entering the Korean market.

Kim Jonghyun, CEO of COOCON, stated, "We will actively leverage the various opportunities available through AFA to fully scale up our global payment business," adding, "By combining our Singapore hub with the AFA network, we aim to enhance connectivity within the Asian fintech market."

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