Tether to Start Issuing USDT on Kaia Blockchain

Kaia DLT Foundation announced on the 7th that Tether will begin distributing USDT based on the Kaia blockchain. USDT is the world's largest U.S. dollar-based stablecoin (a virtual asset linked to the value of fiat currency) with about 400 million users worldwide.

This is analyzed as a strategy by Tether and Kaia to further increase USDT's dominance in the Asian market. In the future, the two companies plan to expand their services to the LINE messenger-based Web3 platform Dapp Portal and platforms of Kaia ecosystem partners.

Meanwhile, the Kaia Foundation is also carrying out projects such as deposit income using Tether's USDT, real-world asset (RWA) tokenization business, on-chain payment services, and integration with domestic and international exchanges.

To this end, the Kaia Foundation plans to explore ways to provide solutions using USDT to Kaia ecosystem partners such as LINE NEXT and Kakao affiliates. Additionally, they are preparing to launch on-chain products such as yield business using USDT, on/off ramps, and one-click virtual asset swaps.

Paolo Ardoino, CEO of Tether, said, "The launch of USDT on the Kaia network is a step to provide stablecoins to millions of the general public," adding, "Through Kaia's highly reliable blockchain infrastructure, we will support various consumers, including approximately 200 million LINE messenger users, to easily use digital assets in their daily lives."

Sangmin Seo, Chairman of the Kaia DLT Foundation, said, "Through cooperation with various major partners such as Tether and LINE NEXT, we plan to expand the usability of stablecoins in Asia and develop hybrid payment solutions."