Kaia, Tether, Kakao Pay & Line Next Launch Hackathon to Stress-Test KRW Stablecoin
Big names collide as blockchain meets mainstream finance—because what could go wrong?
Four heavyweights—Kaia, Tether, Kakao Pay, and Line Next—are throwing down the gauntlet with a hackathon designed to put a Korean won-pegged stablecoin through its paces. The move signals growing institutional interest in bridging crypto and traditional payment systems.
Why this matters
Stablecoins are crypto’s Trojan horse for mass adoption. A KRW-backed token could give South Korea’s crypto-crazed retail traders a regulated on-ramp—assuming regulators don’t pull the plug first.
The players
Tether brings its controversial expertise in maintaining peg stability (despite constant audits). Kakao Pay and Line Next offer real-world payment rails. Kaia? Probably handling the blockchain heavy lifting while others take credit.
Bottom line
Another ‘partnership’ that’ll either revolutionize cross-border payments or end up as a footnote in crypto’s graveyard of abandoned stablecoins. Place your bets.
The hackathon will explore USDT and native KRW stabelcoins on the Kaia chain
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.”
Kakao Pay and Kaia aim to popularize stablecoins
“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).
