Stablecoin Issuer Tether Announces Native Deployment of USDT on Layer 1 Blockchain Kaia
On Wednesday, stablecoin issuer Tether announced that its USDT has been natively deployed on the Layer 1 blockchain Kaia. LINE NEXT, a blockchain development subsidiary of the communication software company LINE, will collaborate with Kaia to leverage the integration of native USDT with applications on the LINE platform, providing dollar stablecoin products to mainstream consumers in Asia.
The mini decentralized applications (Mini Dapps) on the LINE communication platform are built on the Kaia blockchain, which was formed from the merger of Klaytn, a public blockchain under South Korean messaging company Kakao, and Finschia, a public blockchain under LINE. The two parties completed the mainnet merger last year, and the Kaia mainnet is now live.
Through this collaboration, the Mini Dapps and cryptocurrency wallet infrastructure on the LINE platform will support USDT, allowing LINE’s 196 million monthly active users to access the currently largest dollar stablecoin by market capitalization. In other words, users will be able to use USDT for in-app payments, cross-border transfers, and participation in decentralized finance (DeFi) activities within Mini Dapps, all within the familiar LINE interface.
According to the announcement, LINE NEXT’s USDT plan includes enabling users to complete tasks in various Mini Dapps to earn rewards in the form of USDT, as well as allowing direct USDT transfers between friends through the LINE App’s internal wallet. LINE NEXT is also assessing further integration of USDT into more Mini Dapp functionalities.
