Kaia and DOZN to Pilot Stablecoin Settlement in Korean Won
- —DOZN and the Kaia DLT Foundation announced the partnership on September 22
- —The PoC covers JPYC, IDRP and PHPC stablecoins settled in Korean won
- —Flow: stablecoins returned to issuers, fiat converted to won and deposited to bank accounts
- —JPYC has been live on Kaia since May 15, enabling on-chain issuance and redemption
Why it matters: A successful pilot would simplify converting Asian stablecoins into fiat and cut fees and slippage in cross-border payments.
Source: CoinDesk Japan