Kaia Partnerships Boost Stablecoin Use in Japan
Kaia's expansion into Japan is gaining momentum as the company secures key partnerships to broaden its stablecoin use. HashPort Wallet, a non-custodial wallet operated by Japanese Web3 company HashPort, has officially integrated with Kaia, allowing users to view and transfer Kaia, JPYC, USDT, and NFTs.
The integration is part of Kaia's efforts to expand its real-world use cases for stablecoins. The company signed a memorandum of understanding with Japanese payments company Netstars to introduce stablecoin payments through StarPay, a multi-QR payment network. This partnership aims to reduce price volatility risk for merchants while allowing consumers to pay with stablecoins.
The companies are reviewing a structure that would allow merchants to use their existing terminals while receiving settlement in yen. Consumers would pay with stablecoins, and merchants would receive fiat settlement without taking on price volatility risk. Sang-min Seo, chairman of the Kaia DLT Foundation, stated that Kaia would expand real-world use cases for stablecoins by building on Japan's wallet and merchant networks.