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Kaia public chain empowers the Korean won stablecoin to create a new force in Asia's Web3.
Kaia Public Chain: The Rise of a New Force in Asia's Web3
Recently, the Kaia public chain has attracted widespread attention in the crypto market due to the strong rise in its token price. Since its establishment in August 2024, Kaia has been committed to enhancing its technological performance and expanding its ecosystem. Recently, its actions in the stablecoin and payment sectors have become the focus of industry discussions. Senior officials from the foundation publicly stated that Kaia's "stablecoin summer" is coming soon, hinting that its fiat-backed token plan is accelerating.
With the new government in South Korea taking office, support for the issuance of a Korean won stablecoin has become a new policy direction. The Kaia team immediately announced plans to collaborate with several super apps to launch the Korean won stablecoin. This news has triggered a strong market reaction, with related concept stocks significantly rising in price, and the price of Kaia tokens climbing from about $0.10 to a high of $0.17, reflecting the market's optimistic expectations for the prospects of domestic stablecoin projects in South Korea.
South Korea's Stablecoin Policy Breeze
In 2025, after the inauguration of the new president of South Korea, a policy was proposed to support the stability of the local currency stablecoin. Kaia quickly responded and announced a plan for the won stablecoin. This move sparked enthusiastic reactions in the market, with related concept stock prices soaring, demonstrating investors' high interest in the won stablecoin.
The Kaia Korean Won stablecoin project is being promoted by several well-known companies and is currently still in the planning stage, with a specific issuance timetable yet to be determined. Industry insiders generally believe that, thanks to its mature digital wallet infrastructure and QR code payment system, the relevant companies are expected to seize the initiative in the local stablecoin sector.
Currently, the South Korean government is formulating the "Basic Law on Digital Assets," discussing a regulatory framework that allows private institutions to issue stablecoins. The bill aims to relax the rules for cryptocurrency exchanges, permitting non-bank institutions and payment service providers to issue stablecoins. Under the new framework, the approval authority for stablecoin issuers will be transferred to the Financial Services Commission, significantly lowering the regulatory barriers.
However, the South Korean constitution stipulates that the authority to issue legal currency belongs to the central bank, and private institutions face legal obstacles in issuing fiat-pegged tokens. The Bank of Korea has expressed concerns about these proposals, believing that indiscriminately issuing stablecoins pegged to the won could lead to "currency runs" and affect the competitiveness of the won.
Nevertheless, the head of the Digital Assets Committee of the ruling party in South Korea stated that they will support private issuance and plan to clarify the legalization of stablecoins in the "Fundamental Law." The corporate group behind Kaia possesses large-scale payment and financial infrastructure, which provides a convenient channel for the practical application of stablecoins in the future.
However, the prospects of the Kaia stablecoin project remain uncertain. In addition to compliance issues such as currency sovereignty and anti-money laundering, the issuance and redemption mechanisms of stablecoins also need to be validated. Meanwhile, several potential competitors have also entered this field. During the Bank of Korea's experiments with tokenized deposits and wholesale central bank digital currency, several large banks announced plans to jointly issue stablecoins.
Therefore, although Kaia's stablecoin plan has attracted significant attention in policy opportunities, it still faces many challenges in obtaining regulatory approval and being successfully implemented.
Social giants unite, potential user base is enormous
Kaia public chain is a large blockchain network mainly targeting the Asian market, formed by the merger of two well-known blockchain projects from South Korea and Japan, officially launching in August 2024. Its goal is to bring Web3 services to hundreds of millions of Asian users through seamless integration with mainstream social applications.
These two social applications dominate their respective markets, one with nearly 95% penetration in South Korea and about 50 million monthly active users; the other covers 70% of the population in Japan and performs strongly in markets such as Thailand and Taiwan. Based on the distribution capability of over 250 million users across the two major platforms, Kaia, as a high-performance and user-friendly public chain, is seen as one of the potential stocks to promote the popularization of crypto applications. This year, the Kaia Foundation has raised funds from several well-known investment and financing institutions to support ecological incubation and market promotion.
Before merging into Kaia, both original projects had their own development history and achievements. One of them launched in 2019 and was an important representative of the South Korean blockchain network, experiencing a remarkable user growth of 1,100% in 2023, reaching 873,000 users; the other launched in 2022 and provided NFT platform services, with a cumulative user base of over 5.6 million and approximately 560,000 NFT transactions completed. After the merger, Kaia inherited the ecosystem advantages of these two projects, including application scenarios such as DeFi, gaming, NFTs, and payments, achieving a complementarity of technology and user base.
Kaia's official vision emphasizes "putting Web3 at the fingertips of hundreds of millions of users in Asia" and creating an efficient platform to support the development of large-scale decentralized applications. As an Ethereum-compatible Layer 1 public chain, Kaia technically adopts an optimized consensus framework. Official documentation shows that the Kaia network can process up to 4,000 transactions per second, with a block generation time of only 1 second and instant transaction finality.
Kaia adopts a BFT consensus aimed at enterprise and service scenarios, ensuring that once a block is generated, it is finalized, eliminating the traditional risk of block rollback. Network nodes are divided into consensus nodes, proxy nodes, and endpoint nodes, with consensus nodes managed by core operators, responsible for block generation and verification. The network design ensures that over 50 nodes can participate in consensus, balancing throughput and decentralization.
In terms of technical features, Kaia supports account abstraction and fee delegation, significantly simplifying the user experience; it also integrates identities and payment channels from mainstream social platforms, allowing ordinary users to access on-chain services without extra registration. Kaia maintains compatibility with EVM chains like Ethereum and plans to support CosmWasm smart contracts; its industry-leading cross-chain bridge integration capabilities provide developers with flexible multi-chain interoperability. It is worth noting that the Kaia mainnet is essentially a hard fork of the existing blockchain, with all states automatically inheriting to the Kaia chain after the merge.
Expanding from Gaming to Financial Services
When Kaia was first launched, its user base and capital scale were at a starting stage. By mid-2025, Kaia is expected to rank among the top fifty globally in terms of DeFi TVL, reflecting the initial scale of its ecosystem. In terms of on-chain activity, Kaia's official disclosure shows that over 40 million users have accessed the Mini DApp portal. Although the number of wallets and transaction volume grew rapidly in the early stages after the launch, the overall level is still far below that of mature mainstream public chains like Ethereum, Solana, and BNB.
In terms of the ecosystem, Kaia integrates the application ecosystems of two original projects, forming a comprehensive ecosystem covering multiple fields such as DeFi, NFT, GameFi, and Real World Assets (RWA). According to official statistics, there are already over 420 decentralized applications and gaming services that have launched or are planned to be launched on the Kaia network after the merger.
In addition, the Kaia mainnet was launched alongside a builder support program called Kaia Wave. This program aims to provide multifaceted support for promising Dapps, enabling them to reach consumer users in both Web2 and Web3, and gain additional advantages from various channels. According to official documents, the Kaia Wave program offers a total value of $10 million in KAIA tokens, specifically for user acquisition and rewards.
In the DeFi field, Kaia has launched multiple decentralized exchanges and staking, lending projects, and the platform also supports infrastructure such as stablecoins and cross-chain bridges; in terms of NFTs, Kaia inherits the existing user base of the original platform, and its GameFi ecosystem benefits from the user groups and partner resources of two major social platforms, with some game developers starting to launch mobile games, NFT items, and other content on Kaia.
In terms of Mini DApp distribution and user engagement, Dapp Portal is one of the main tools for the development of the Kaia ecosystem. The Dapp Portal is built on the Kaia chain and is accessible to users through the official accounts of social applications, allowing access to games, social interactions, transactions, and other Mini DApps directly within the chat interface without the need to download and install any new applications. In January of this year, Kaia jointly launched the first batch of 32 Mini DApps, allowing users to create wallets, play games, claim rewards, and trade NFTs with just one click, without the need to install a separate client.
In its official strategy, Kaia is gradually expanding from the gaming sector to financial services and general applications: a USD stablecoin yield product was launched on a major platform in early 2025, with subsequent plans including the introduction of lending, perpetual contracts, payment, and asset tokenization DeFi protocols, as well as enabling seamless exchange between the Korean won and stablecoins.
In May of this year, a well-known stablecoin issuer officially deployed its US dollar stablecoin on Kaia, providing stablecoin payment and cross-border transfer services to nearly 200 million users, marking further expansion of Kaia's layout in the international stablecoin ecosystem. Overall, Kaia is accelerating the construction of a platform-level ecosystem, promoting the use case of "message as the entry point, on-chain as the payment" together with industry partners.