South Korea launches stablecoin ATM pilot, currently limited to foreign tourists

ChainCatcher news, according to Decrypt, South Korean blockchain company DaWinKS has partnered with the Kaia DLT Foundation to launch a stablecoin ATM that supports cash withdrawals of USDT issued on the Kaia blockchain, which is now live in various travel and retail locations. This ATM is only available for users holding foreign passports and supports exchanges for 85 fiat currencies or top-ups to local transportation cards.

The project operates under South Korea's "regulatory sandbox" framework and is currently not open to local residents.