Kaia Expands Asian Stablecoin Ecosystem via Dual Japanese Alliances with Netstars and HashPort
The Kaia DLT Foundation has struck strategic partnerships with Tokyo-listed payment gateway Netstars and digital asset solution provider HashPort. The dual announcements position Kaia—an EVM-compatible Layer-1 public blockchain created through the merger of Kakao’s Klaytn and LINE’s Finschia—to bridge decentralized finance with everyday brick-and-mortar retail across Asia.
Integrating Offline Retail Merchants via Netstars
Under a newly signed Memorandum of Understanding (MOU), Kaia and Netstars will integrate Kaia-based stablecoins into Netstars' "StarPay" and "Stablecoin Pay" platforms. Netstars currently powers over 700,000 merchant locations with an annual transaction volume exceeding ¥2 trillion (~$13.5 billion).
Key initiatives under the agreement include:
- Merchant Cash-Out in Fiat: Consumers will be able to pay at point-of-sale (POS) terminals using stablecoins, while Japanese merchants receive local settlement directly in Japanese Yen (JPY) without needing to hold digital assets.
- Cross-Border Inbound Payments: The partnership aims to accept stablecoins pegged to major Asian currencies—including Korean Won (KRW), Hong Kong Dollar (HKD), Taiwan Dollar (TWD), and Southeast Asian currencies—allowing international tourists to pay seamlessly in foreign-currency-pegged assets.
- On-Chain FX Settlement: The companies will jointly test liquidity provisioning and cross-currency exchange infrastructure utilizing "Ratio," Kaia’s on-chain foreign exchange orchestration layer.
The collaboration advances Netstars’ "StarPay-X" strategy, a gateway initiative designed to connect traditional Web2 retail POS infrastructure with Web3 digital finance networks.
Securing Digital Wallet Integration with HashPort
In a parallel move, HashPort's non-custodial "HashPort Wallet" has officially added network support for the Kaia blockchain. The wallet, built on the infrastructure of Osaka's "EXPO2025 Digital Wallet" application, has surpassed 1 million cumulative downloads.
The integration allows users to manage, send, and receive Kaia-native tokens, including JPYC (yen-pegged stablecoin), Tether (USDT), and non-fungible tokens (NFTs) directly within the wallet app. HashPort Wallet already supports converting regional loyalty tokens (such as Lawson's Ponta points) into digital assets and exporting funds to mobile payment apps such as au PAY.
Additionally, Kaia and HashPort plan to participate in merchant payment trials organized by the Osaka Prefectural and Municipal governments as part of Osaka's financial market promotion initiatives.
Closing the Gap in Japan's Stablecoin Market
While Japan established a regulatory framework for fiat-backed stablecoins under the revised Payment Services Act in June 2023, actual consumer adoption at physical checkout counters has remained limited due to a lack of merchant terminal integration.
"For blockchain technology to become a part of daily life, it must connect directly to existing consumer applications and payment networks," said Sam Seo, Chairman of the Kaia DLT Foundation. "By leveraging established wallet bases and merchant networks in Japan, we aim to transform stablecoins from assets people merely hold into currencies they use every day."
Norbert Gehrke
