Starting on 1 August 2025, Kaia DLT Foundation (Kaia) will co-host the first Korea Stablecoin Hackathon, with Tether, KakaoPay, and LINE NEXT Corp. This initiative demonstrates Kaia chain’s leadership role in the South Korean digital asset market as well as its strong partnerships that are advancing Asian stablecoin markets, including KRW-pegged ones, following recent regulatory progress that has boosted activity.
To maximize collaboration between Web3 fintech developers and major enterprises, Kaia has partnered with top industry players such as Tether, the world’s largest USD stablecoin provider; KakaoPay, the native payment solution of KakaoTalk, which holds a 95% market share in South Korea; and LINE NEXT, LINE’s Web3 venture, delivering Kaia-powered Web3 services to 196 million users on LINE Messenger worldwide.
The hackathon features two tracks: an “ideathon” focused on future KRW-backed stablecoin initiatives and a hackathon powered by the native USDT on the Kaia chain. Alongside prize funding of USD 72.5 thousand (KRW 100 million), Kaia will support top performers in launching their Mini Dapps within LINE Messenger. Kaia Wave VC Alliances and Simsan Ventures, a UK- and UAE-based global venture capital firm, will review promising builders for potential investment.
Meanwhile, Biyard, a Web3 company operating the decentralized, purpose-driven social platform RATEL, has facilitated collaboration among industry, academia, and government. As such, lawmaker Byung-deok Min—who proposed the first bill of the Digital Asset Basic Act of Korea (2025)—will deliver a keynote speech at the awards event in September.
“I am delighted to be participating in the judging of insights related to stablecoins, a global hot topic as a daily financial platform for the entire nation,” said Won Geon Shin, CEO of KakaoPay. “I expect that the ideas from the hackathon will lead to more innovative services for users in line with the policy environment.”
“This Hackathon marks a starting point for activating the use of stablecoins,” said Youngsu Ko, CEO of LINE NEXT “With Kakao Pay and Kaia, LINE NEXT looks forward to supporting innovative business ideas to speed up the popularization of Web3 services and stablecoins.”
“I am excited that KakaoPay and LINE NEXT, Kaia’s governance members, and Tether, one of our strong partners, are participating in this hackathon,” said Dr. Sam Seo, Chairman of the Kaia DLT Foundation. “The cooperation of those involved in our joint effort will ensure the domestic stablecoin sector is established seamlessly. Through this hackathon, Kaia will help found the digital asset fintech industry as another growth engine for Korea, discovering exceptional Web3 business models beneficial to everyone.”
Open to anyone interested in stablecoins and Web3, the event will center on financial inclusion, payment system innovation, RWA tokenization, DAO operational efficiency, cross-border remittances, and digital content transactions. Detailed information will be available on Kaia’s official website (kaia.io) and its social media channels (@KaiaChain_KR).
About Tether and USD₮
Tether is a pioneer in the field of stablecoin technology, driven by an aim to revolutionize the global financial landscape. With a mission to provide accessible and efficient financial, communication, artificial intelligence, and energy infrastructure. Tether enables greater financial inclusion, and communication resilience, fosters economic growth, and empowers individuals and businesses alike.
As the creator of the largest, most transparent, and liquid stablecoin in the industry, Tether is dedicated to building sustainable and resilient infrastructure for the benefit of underserved communities. By leveraging cutting-edge blockchain and peer-to-peer technology, it is committed to bridging the gap between traditional financial systems and the potential of decentralized finance.
About KakaoPay
Launched in April 2017, Kakao Pay, a techfin subsidiary of Kakao, has been building a convenient and safe lifestyle financial platform that can be used on KakaoTalk and the Kakao Pay app, and has created a transition to a wallet-less society where people can engage in economic activities anytime, anywhere with just a smartphone.
Since launching the first mobile simple payment service in Korea in 2014, it has achieved remarkable growth by providing innovative lifestyle financial services that resolve the inconveniences of existing financial activities such as online and offline payments, remittances, memberships, bills, and authentication. Starting with the investment service in November 2018, it has been expanding its financial services open to everyone by introducing specialized financial services such as credit inquiry, loan comparison, and asset management. In 2023 and 2024, it will launch a loan switching service and an insurance comparison service, building a lineup that can encompass all of users’ diverse financial needs. As the representative global pay service in Korea, Kakao Pay is actively expanding its territory overseas. Currently, it is linking payment services with over 50 overseas countries and regions, including Asia, Europe, and the Americas, beyond Korea. Through its subsidiary, Kakao Pay Securities, it is providing convenient investment and asset management services such as funds and mini-safes in everyday life, and Kakao Pay Insurance, the first platform-based digital comprehensive insurance company in Korea, is leading the change in the insurance market by attempting innovative changes such as user-designed coverage, discounts when you join, claim notifications and immediate payments, and accident-free refunds.
In order to create a world where various stakeholders can coexist, Kakao Pay is also promoting various activities that add Kakao Pay’s own benefits in each area of the environment, society, and governance under the ESG vision of ‘beneficial flow, flexible finance’. In particular, Kakao Pay is carrying out coexistence activities so that anyone can enjoy digital finance and achieve sustainable growth together regardless of the digital information gap. We are operating various win-win programs targeting members of society who are in the blind spot of digital finance, such as senior citizens and young people preparing for independence, as well as small business owners who are in contact with Kakao Pay business, to spread positive influence throughout the local community and build services that incorporate various ESG elements to create a virtuous cycle structure for ESG management.
About LINE NEXT Corporation
Based in Korea with offices in the United States and Japan, LINE NEXT Corporation is focused on developing global services and businesses based on Web3 and games.
About Kaia
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.
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