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Kaia, Tether, Kakao Pay & LINE NEXT Co-Host Korea’s First Stablecoin Hackathon

In a major step toward advancing the stablecoin ecosystem in Asia, Kaia DLT Foundation, in partnership with Tether, Kakao Pay, and LINE NEXT, is launching Korea’s first Stablecoin Hackathon.

🔹 Key Highlights:
• A dual-track event featuring a KRW-backed stablecoin “Ideathon” and a Kaia-USDT hackathon
• Participants will compete for KRW 100M ($72.5K) in prizes and the chance to launch Mini Dapps on LINE Messenger
• Rep. Byung-deok Min, proposer of Korea’s Digital Asset Basic Act (2025), will deliver a keynote speech
• Supported by global VCs like Kaia Wave Alliance and Simsan Ventures

This collaborative effort aims to:
✔️ Foster innovation in Web3 finance
✔️ Drive the development of a KRW stablecoin
✔️ Promote financial inclusion, cross-border payments, DAO efficiency, and RWA tokenization

Kaia’s strategic partnership with:
• Tether – the leading USD stablecoin provider
• Kakao Pay – South Korea’s dominant payment platform
• LINE NEXT – Web3 leader with 196M global LINE Messenger users
…underscores its leadership in Korea’s digital asset sector.

💬 “This hackathon will be the launchpad for innovative Web3 services and stablecoin adoption in Korea.”
– Youngsu Ko, CEO, LINE NEXT

📍 Event Details available at: kaia.io and official Kaia social channels

#Stablecoins #Web3 #KaiaChain #Tether #KakaoPay

Kakao is preparing to launch a stablecoin linked to the South Korean Won, awaiting a new legal framework

Kakao, South Korea's leading internet conglomerate, is preparing to launch a stablecoin linked to the South Korean Won (KRW) through their participation in the Kaia blockchain. This move is evidenced by Kaia registering trademarks related to KRW, signaling a potential step into the cross-border payment space. #Korea

Strategic vision and broad application

With Kakao and #KakaoPay on the board of directors of Kaia, this project aims to integrate the KRW stablecoin into Kakao's application ecosystem, which has over 49 million monthly active users in South Korea. This will allow users and businesses to easily access DeFi protocols and decentralized financial applications.

Challenges from legal and application issues

However, the launch of this stablecoin still depends on the legal framework currently under discussion in South Korea. The bills regarding stablecoins still have many unresolved points, especially concerning licensing regulations, reserves, capital requirements, and the role of banks.
Experts also point out that, compared to USD-based stablecoins, the stablecoin #KRW may face challenges in finding clear use cases. South Korea's strict foreign exchange control regulations may limit the initial application of this stablecoin in cross-border payments, one of the biggest advantages of stablecoins.

🚨 JUST IN: South Korea’s payment giant KakaoPay has seen its shares surge over 200% in the past month amid growing anticipation for local stablecoin approval.

🔍 Investors are betting big on Korea's crypto future.

#CryptoNews #stablecoin #KakaoPay #SouthKorea #Web3