Kaia Teams Up with DaWinKS to Let Tourists Turn Crypto into Cash in South Korea

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Layer 1 blockchain Kaia’s native USDT is now supported on DaWinKS’s Digital ATMs (DTMs) across South Korea, enabling foreign travelers to withdraw cash or issue prepaid transit cards directly from their Kaia USDT holdings. 

Kaia USDT on SoKor DTMs

Deployed in seven major tourist and retail locations, including N Seoul Tower, Myeongdong, and select Lotte Mart and Homeplus branches, the DTMs allow users to convert digital assets into 85 legal currencies from 15 countries. 

Prepaid transit cards can also be issued, with additional support for currency exchange into USD upon departure.

“DaWinKS is expanding the usability of stablecoins based on its experience in various fintech services, from currency exchange to cryptocurrency ATMs and QR payments… The collaboration with Kaia, which partners with major 2eb3 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.”

Jong-myeong Lee, CEO, DaWinKS 

The machines use DaWinKS’s KYC technology, including passport and facial recognition tools adopted from Korean airport immigration systems, to ensure secure and efficient verification. After authentication, users can scan QR codes to access funds or services at the daily exchange rate.

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Initially supporting Bitcoin, Ethereum, and USDT since late last year, the DTMs now expand their utility through Kaia’s USDT integration, with $KAIA token support in development. 

While services are currently available to foreign travelers, DaWinKS plans to open access to domestic users within the year.

In a press release, Kaia DLT Foundation noted the initiative as a major step in bringing stablecoin utility to real-world use cases, particularly for tourists and K-culture visitors navigating the country.

“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.”

Dr. Sangmin Seo, Chairman, Kaia DLT Foundation,

Dr. Seo added that they anticipate rising demand for cross-border transactions as stablecoins gain broader consumer acceptance. He noted that Kaia and DaWinKS plan to jointly expand DTM services within South Korea and to international markets.

What are DTMs

Digital Teller Machines (DTMs) are blockchain-powered automated kiosks that offer untact (contactless) foreign currency exchange and digital wallet services without the need for a traditional bank account. 

DTMs are designed for both Korean residents and foreign travelers, allowing users to exchange up to $2,000 per day across supported fiat currencies.

DaWinKS operates these DTMs that offer direct foreign currency exchange, overseas remittance, and tax refund services for 89 currencies across 17 countries using non-face-to-face KYC technology, which combines passport recognition and AI facial authentication. 

The media release noted that these DTMs, tailored for foreign tourists, support a range of services, including Crypto ATMs (CTMs), QR Pay, POS systems, and prepaid transit cards (Kona DTK Card), and are installed in major commercial districts in South Korea. DaWinKS also partners with Global Tax Free to offer integrated tax refund solutions, enhancing the overall convenience and accessibility of fintech services for international travelers.

Recent Kaia News

In February, LINE NEXT, in partnership with the Kaia blockchain network, launched 32 mini decentralized applications (dApps) and a dedicated dApp portal within LINE Messenger, allowing users to easily access, play, and earn from Web3 content without downloading separate apps. The initiative includes an integrated digital wallet and supports categories like games, social media, and wellness. 

Last year, Kaia DLT Foundation officially launched its mainnet on August 29, 2024, following its incorporation into the Abu Dhabi Global Market (ADGM). The launch introduced Kaia Portal for DeFi services and Kaia Square for staking and delegation. 

This article is published on BitPinas: Kaia and DaWinKS Bring USDT Withdrawals to South Korea’s Travel Hubs via Digital ATMs

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