Kaia and South Korean Megabank KB Kookmin Bank Complete Technical Verification for Won-Based Stablecoin Settlement, Clearing, and Overseas Remittance

The Kaia DLT Foundation announces that KB Kookmin Bank, one of South Korea's four major commercial banks, has successfully completed a proof-of-concept (PoC) in collaboration with payment specialist KG Inicis, digital asset solutions company OpenAsset, and Kaia. This PoC integrated the entire process for a Won-based stablecoin, from issuance and payment to settlement and overseas remittance. This case is an integrated demonstration connecting the flow from stablecoin issuance to offline payment, merchant settlement, and overseas remittance. A key feature is the transition of the internal settlement structure to a blockchain basis while maintaining the existing financial service experience for users. The real-life payment model was implemented via offline kiosk payments at the major South Korean cafe chain "HOLLYS." Users could pay with a simple QR code without needing to install a separate digital wallet, and the settlement process was automated by a smart contract on the blockchain. For overseas remittance verification, the process of converting the Won-based stablecoin to a USD-based stablecoin via on-chain liquidity on Kaia and sending it to a real bank account via a local partner in Vietnam was implemented. While traditional SWIFT-based remittances can take several business days, this verification completed the entire process in under 3 minutes, with an approximate 87% reduction in fees compared to conventional methods. A differentiating factor of this PoC is that the entire process, from issuance to remittance, was designed and controlled directly by the participating companies, rather than simply adopting an external platform. The KB Financial Group plans to build an operational structure to rapidly deploy actual services in line with the future development of digital asset-related legal frameworks. Kaia is also promoting the expansion of stablecoin payment infrastructure in Asia, centered on Japan and South Korea, including the recently announced onboarding of the Japanese Yen stablecoin "JPYC." Going forward, Kaia will pursue further collaboration to build a real-demand-based Web3 financial infrastructure in the Asian market.