DaWinKS DTM Supports Kaia USDT...Leading Web3 & Fintech Innovation

The Kaia DLT Foundation (hereafter, Kaia) announced on the 30th that DaWinKS, a blockchain-based fintech company, has launched exchange (withdrawal), prepaid transportation card (DTK Card) recharge, and issuance services for USDT (Tether), the world’s largest USD-backed stablecoin issued by Kaia, on its Digital ATM (hereafter, DTM) network in key regions nationwide.

Overseas visitors and K-culture enthusiasts can utilize these related services at seven locations nationwide, including Namsan Tower, Homeplus and Lotte Mart major branches, Myeong-dong currency exchanges, Myeong-dong Dokkaebi Mart, and Namdaemun Market currency exchange cafes.

DaWinKS DTM is a blockchain on/off ramp service built on passport and facial scan authentication solutions used at immigration control at domestic airports, introducing a non-face-to-face identity verification (KYC) method enabling conversion and withdrawal of digital assets in KRW. After completing identity verification, users can withdraw digital assets in KRW converted at the current day's exchange rate via QR code or barcode scan, or recharge and issue a domestic prepaid transportation card. When departing Korea, leftover KRW can be exchanged for USD.

Currently, the DTM service is only available to foreigners but will expand to domestic consumers within the year. In the future, domestic customers will be able to verify themselves using national ID cards or driver’s licenses as well as passports. In addition to digital assets, users can exchange 85 types of fiat currencies from 15 countries into KRW.

Jongmyung Lee, CEO of DaWinKS, stated, "DaWinKS is expanding the practical use of stablecoins based on rich experience in various fintech services from currency exchange to digital asset ATMs and QR payments. We expect that cooperation with Kaia, which has expanded the real-world adoption of stablecoins in the Asian market through partnerships with key players like Tether and LINE NEXT, will be a significant boost for DTM’s global expansion."

Sangmin Seo, Chair of the Kaia DLT Foundation, commented, "The collaboration with DaWinKS is an important milestone for expanding real-world use cases of USDT on the Kaia Network and local stablecoins to be issued in the future," adding, "We anticipate continued growth in demand for cross-border currency exchange, deposits, and withdrawals, and will make efforts to expand DTM services not only domestically but also internationally."