South Korea is set to host its first stablecoin hackathon, organized by Kaia DLT Foundation in collaboration with Tether, KakaoPay, and LINE NEXT Corp. The event will highlight Kaia's leading role in the country's digital asset market.
Collaboration of Major Fintech Players
Kaia DLT Foundation, together with Tether, KakaoPay, and LINE NEXT Corp, will conduct the first stablecoin hackathon in South Korea. This partnership underlines Kaia's active role in the development of Asian stablecoins and its efforts to promote the digital asset market following recent regulatory progress.
Formats and Goals of the Hackathon
The hackathon will feature two tracks: an 'ideathon' focused on initiatives for a KRW-backed stablecoin and a hackathon utilizing USDT. A prize pool of $72,500 will be offered, along with support for launching Mini Dapps within LINE Messenger.
Participants' Opinions on Stablecoin Prospects
Speaking at the event, Won Geon Shin, CEO of KakaoPay, stated, 'I am delighted to participate in judging insights related to stablecoins, a global hot topic for the entire nation.' Youngsu Ko, CEO of LINE NEXT, emphasized that this hackathon marks a starting point for activating stablecoin usage.
The stablecoin hackathon represents an important step in advancing digital financial technologies in South Korea. The partnership with key industry players demonstrates a commitment to promoting innovation and expanding the use of stablecoins and fintech services.
