Kaia’s native USDT adds DaWinKS’s Digital ATMs, testing stablecoin exchanges for foreign travellers

• Travellers and K-culture enthusiasts visiting South Korea can withdraw cash or issue a prepaid transit card in 85 legal currencies from 15 countries by using their Kaia USDT deposit.
• Located at the country’s 7 hotspots, DTMs employ DaWinKS’s trusted and true passport-scanning technology used at the airport’s immigration in Korea to ensure quick and reliable transactions.

Kaia DLT Foundation (Kaia) announced that DaWinKS, a blockchain-based fintech company, supports Kaia-issued USDT on its Digital ATMs (DTM) installed across major travel spots in South Korea. In direct response to travellers and K-culture enthusiasts heading to the country, this offline on/offramp service enables cash withdrawals in real-world currencies from their Kaia USDT deposit or issues a prepaid transit card.

DaWinKS ATM complete on-site KYC

DTMs feature KYC methods based on DaWinKS’s passport- and face-scanning authentication solutions used at airport immigration in Korea. After completing KYC and scanning barcodes and QR codes, users can withdraw digital assets or issue a prepaid card in 85 legal currencies from 15 countries. Any remaining cash can also be exchanged for USD upon departure from the country. Digital assets are converted into real currency based on the daily exchange rate.

Kaia USDT-enabled DTMs are available at seven key locations across South Korea: NSeoul Tower, Homeplus (Hapjeong and CentumCity), Lotte Mart (Gwangbok), LIFEWORK Mega Store Myeongdong, Myeongdong Money Club, and NamDaeMun Exchange Café. The service is also expanding to major Lotte Mart branches nationwide.¹ Though the service is currently available only to foreigners, domestic consumers will also be able to access it within this year.

Kaia expands the usability of stablecoins

DTMs have been supporting three types of digital assets—Bitcoin, Ethereum, and USDT—since the end of last year. Beyond supporting the native Kaia USDT, the two companies are also working on adding $KAIA to the DTM’s service boundaries. 

“DaWinKS is expanding the usability of stablecoins based on its experience in various fintech services, from currency exchange to cryptocurrency ATMs and QR payments,” said DaWinKS CEO Jong-myeong Lee. “The collaboration with Kaia, which partners with major Web3 and fintech companies such as Tether and LINE NEXT to expand the practical usability of stablecoins across Asia, will be of great help in DTM’s global expansion.”

DaWinKS operates a digital ATM that provides direct foreign currency exchange, tax refund (city refund), and overseas remittance (custody) services for 89 legal currencies in 17 countries through non-face-to-face KYC (self-verification) fintech technology that combines ID (passport) recognition and AI facial authentication.

In particular, DaWinKS provides various conveniences to foreign tourists through its own Digital ATM (DTM), Crypto ATM (CTM), QR Pay and POS, passport scanner, and other advanced blockchain-based fintech services. These services operate non-face-to-face digital ATM foreign exchange services in major domestic commercial districts, and provide prepaid transportation card (Kona DTK Card) services with Kona and tax refund services with Global Tax Free, further enhancing convenience for foreign users.

“The collaboration with DaWinKS marks a significant milestone in expanding the real-world use cases of Kaia network’s native USDT and local stablecoins that will be launched on Kaia, said Dr. Sam Seo, Chairman of Kaia DLT Foundation. “We expect the demand for cross-border exchanges, deposits, and withdrawals to grow as consumer perception improves, and we will work together to expand DTM services both domestically and internationally.”

Kaia is a high performance public blockchain that brings Web3 to the fingertips of hundreds of millions across Asia. Formed through the merger of the Klaytn and Finschia blockchains that were initially developed by Kakao and LINE respectively, Kaia is Asia’s largest Web3 ecosystem integrated with the Kakaotalk and LINE messengers that have a combined user base of over 250 million – all of whom can experience Web3 with the ease and speed of Web2 within their favourite messenger superapp to connect, create, collaborate, and contribute to the ecosystem. Learn more at www.kaia.io.