Kaia offers tourists USDT-to-cash withdrawals at ATMs in South Korea
The post Kaia offers tourists USDT-to-cash withdrawals at ATMs in South Korea appeared on BitcoinEthereumNews.com.
South Korea is warming to the idea of digital asset payments by allowing foreign visitors to convert crypto assets to fiat. The country now allows tourists to convert stablecoins into cash using Kaia ATMs at major tourist destinations. DaWinKS and Kaia DLT Foundation collaborated to establish the crypto-enabled kiosks. The firm also revealed that the ATMs support Kaia-issued USDT – a type of Tether’s USDT formed from the merger of Klaytn and Finschia. Translated post from Kaia Korea. Source: @KaiaChain_KR (via X/Twitter) South Korea limits locals from using crypto ATMs Both companies said the ATMs are available in the country’s infrastructure, such as convenience stores and transit hubs. According to both firms, the crypto-enabled kiosks are easy to use, and foreign visitors can withdraw fiat in 85 currencies or deposit funds onto a local transit card. South Korea has also barred locals from using the crypto ATMs, even if they have digital assets. Dr. Sangmin Seo, chairman of the Kaia DLT Foundation, argued that the country really desires to pursue the stablecoin industry, even through experimental implementation. Locals have reportedly attempted to access the machines discreetly, despite being limited to only tourists. It has raised questions about how local authorities are able to implement the ATMs’ restrictions and whether the demand for stablecoin conversion exists beyond the target user base. Seo maintained that the machines are faced with challenges such as know-your-customer rules for background checks and identity verification. He also believes that KYC causes major delays for offline Web3. DaWinKS revealed that its ATMs include passport- and face-scanning authentication procedures similar to those used at airport immigration in Korea. The firm said the machines will be available at seven strategic locations in the country, including NSeoul Tower, Homeplus (Hapjeong and CentumCity), LIFEWORK Mega Store Myeongdong, Lotte Mart (Gwangbok), NamDaeMun…
Filed under: News - @ July 31, 2025 11:30 am