According to TechFlame, on August 22, Kaia announced the signing of a memorandum of understanding with Open (Asset) to cooperate in the issuance, compliance, and expansion of practical application scenarios for Korean won stablecoins.

Open (Asset) is a tokenized asset issuing company that aims to promote the adoption of blockchain and trading token assets by financial institutions. It has participated in a number of important projects to demonstrate its stablecoin-related technical strength, including “dual-signature stablecoin issuance system” technology in cooperation with commercial banks, offline payment proof of concept (PoC) in cooperation with AhnLab Blockchain, and a securities token issuance (STO) system developed for Korea Investment Securities Company.

Through this partnership, Open (Asset) plans to issue and promote its self-developed won stablecoin on the Kaia blockchain, and provide Korean won stablecoin issuance agency services to customers who wish to issue stablecoins, to jointly help the development of compliant Korean won stablecoins and promote the adoption of Web3 payments in the real world.