LINE NEXT to Launch Stablecoin Payments Service Unifi Pay in Third Quarter

LINE NEXT will launch Unifi Pay, a stablecoin-based payments service, globally in the third quarter. The company has also started preregistration for developers ahead of the official rollout.

LINE NEXT said June 26 that Unifi Pay, a payments infrastructure built on its Unifi stablecoin wallet service, is slated for a global third-quarter debut. It plans to provide software development kits, or SDKs, in phases before the formal launch.

Unifi Pay will support Tether's USDT, the yen-denominated stablecoin JPYC and the Indonesian rupiah stablecoin IDRP. Users in Japan and Indonesia will be able to load JPYC and IDRP from bank accounts after completing electronic know-your-customer verification, or e-KYC. The company plans to add support for more stablecoins in countries where regulations permit.

The service directly links users and providers through wallets, removing payment fees. Average settlement takes about one second. Settlement funds can also be sent directly to bank accounts through partner exchanges and SentBe's solution.

LINE NEXT will offer SDKs to help developers, artificial intelligence developers and content creators adopt global payments more easily. Using agent-to-agent, or A2A, functions, users can build a payment page in about 10 minutes by entering prompts alone. Users who keep payment proceeds in a Unifi wallet can receive annual rewards of up to 5%, depending on the stablecoin.

Over the past year, the beta service handled cumulative payments and settlements of 100 billion won ($72.4 million), which the company said demonstrated the platform's stability.

"We confirmed Unifi Pay's stability through the beta service," Chief Executive Officer Ko Young-soo said. "With developer tools that anyone can use easily, we will build it into a global payments infrastructure connecting developers, creators and users worldwide."