Stablecoin giant Tether (USDT) has rolled out its USDT stablecoin on the Kaia blockchain, expanding its reach to users of LINE Messenger, a popular Korean social media platform.
LINE NEXT, the parent company of the LINE Messenger app, and Tether, the issuer of the USDT stablecoin, have partnered to bring USDT payments and rewards to new users in Asia.
The partnership will allow over 196 million monthly users of LINE Messenger to access and use USDT for payments, rewards, and decentralized finance directly within the app.
"We are excited to integrate our industry-leading USDT on the Kaia chain, expanding the possibilities for innovation and financial inclusion in the region and beyond," said Paolo Ardoino, CEO of Tether. "With LINE NEXT’s blockchain infrastructure, over 200 million LINE users will now have a straightforward way to engage with digital assets in everyday life."
"We are thrilled to be partnering with LINE NEXT to bring the benefits of blockchain technology to their massive user base," said Sam Seo, chairman of Kaia DLT Foundation. "With the lowest transaction latency among EVM chains and immediate finality, Kaia’s USDT will provide the fastest, easiest, and most reliable user experience available across platforms such as LINE, DeFi, and CEXs."
The partnership will see USDT integrated with LINE's Mini Dapps and self-custodial wallet. Users will be able to complete in-app tasks and earn rewards in the USDT stablecoin, send and receive the token with friends, and participate in DeFi applications.
The partnership is part of LINE NEXT's broader efforts to expand its Web3 presence. Earlier this year, LINE NEXT launched its own blockchain, which is compatible with the Ethereum Virtual Machine (EVM). The company is also developing a metaverse platform and other Web3 services.
"We are always looking for new ways to provide value to our users," said CHAIN, CEO of LINE NEXT. "This partnership with Tether will enable us to introduce a new generation of users to the world of cryptocurrency."
The partnership is sure to bring excitement to both parties involved and the cryptocurrency industry as a whole.
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